Thompson Siegel & Walmsley LLC Buys 1,714 Shares of The Progressive Co. (NYSE:PGR)

Thompson Siegel & Walmsley LLC grew its stake in shares of The Progressive Co. (NYSE:PGR) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,591 shares of the insurance provider’s stock after buying an additional 1,714 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Progressive were worth $20,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. bought a new stake in shares of Progressive during the fourth quarter worth $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive during the fourth quarter worth $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares during the period. Finally, Independence Bank of Kentucky lifted its holdings in shares of Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 165 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CIO Jonathan S. Bauer sold 1,227 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $281.00, for a total transaction of $344,787.00. Following the completion of the sale, the executive now directly owns 28,393 shares of the company’s stock, valued at $7,978,433. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,257 shares of company stock valued at $15,752,781 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Progressive Trading Up 0.2 %

NYSE:PGR opened at $277.52 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a 50-day moving average of $256.53 and a 200-day moving average of $253.50. The company has a market cap of $162.69 billion, a PE ratio of 19.27, a PEG ratio of 1.70 and a beta of 0.35. The Progressive Co. has a one year low of $197.77 and a one year high of $287.49.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, equities research analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s payout ratio is presently 2.78%.

Analyst Ratings Changes

PGR has been the topic of a number of recent research reports. Roth Mkm lifted their price target on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Wells Fargo & Company boosted their target price on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Bank of America dropped their target price on shares of Progressive from $333.00 to $318.00 and set a “buy” rating on the stock in a report on Monday. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $276.59.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.