Sei Investments Co. Sells 32,370 Shares of The Progressive Co. (NYSE:PGR)

Sei Investments Co. lessened its position in shares of The Progressive Co. (NYSE:PGR) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 490,804 shares of the insurance provider’s stock after selling 32,370 shares during the period. Sei Investments Co. owned 0.08% of Progressive worth $117,608,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. bought a new stake in Progressive in the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in Progressive in the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC increased its stake in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares in the last quarter. Valley National Advisers Inc. increased its stake in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in Progressive in the fourth quarter valued at $32,000. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

Shares of PGR stock opened at $273.08 on Friday. The firm has a market cap of $160.08 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The firm’s 50-day simple moving average is $261.96 and its two-hundred day simple moving average is $255.01.

Progressive (NYSE:PGR) last announced its quarterly earnings data 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 analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Progressive’s dividend payout ratio is 2.78%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PGR. BMO Capital Markets decreased their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company lifted their price objective on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America reduced their price objective on shares of Progressive from $318.00 to $300.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $281.06.

Insiders Place Their Bets

In other news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,495 shares of company stock valued at $16,668,034. Company insiders own 0.34% of the company’s stock.

Progressive Company 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.