Blair William & Co. IL Has $380.07 Million Stake in The Progressive Co. (NYSE:PGR)

Blair William & Co. IL reduced its stake in shares of The Progressive Co. (NYSE:PGR) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586,218 shares of the insurance provider’s stock after selling 22,868 shares during the quarter. Progressive accounts for 1.1% of Blair William & Co. IL’s portfolio, making the stock its 15th largest position. Blair William & Co. IL owned about 0.27% of Progressive worth $380,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC increased its stake in Progressive by 54.7% during the 4th 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 in the last quarter. LRI Investments LLC boosted its holdings in shares of Progressive by 16.5% in the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after buying an additional 42 shares during the period. Washington Trust Bank raised its holdings in shares of Progressive by 4.1% during the fourth quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 42 shares during the period. SYM FINANCIAL Corp lifted its position in Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 44 shares in the last quarter. Finally, Monument Capital Management boosted its stake in Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after purchasing an additional 44 shares during the period. 85.34% of the stock is owned by institutional investors.

Progressive Stock Down 0.7 %

PGR stock opened at $272.49 on Thursday. The business’s fifty day moving average price is $264.03 and its two-hundred day moving average price is $255.49. The stock has a market capitalization of $159.74 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.70 and a beta of 0.35. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. On average, equities analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

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

Insider Buying and Selling at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Carl G. Joyce sold 360 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $276.17, for a total transaction of $99,421.20. Following the sale, the chief accounting officer now directly owns 655 shares of the company’s stock, valued at $180,891.35. This represents a 35.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,255 shares of company stock valued at $16,877,471 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Roth Mkm upped their price target on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Finally, BMO Capital Markets reduced their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and an average target price of $281.06.

About Progressive

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.