The Progressive Corporation $PGR Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its position in shares of The Progressive Corporation (NYSE:PGR) by 25.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,574 shares of the insurance provider’s stock after buying an additional 6,196 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Progressive were worth $6,061,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Waverly Advisors LLC grew its stake in Progressive by 99.6% in the 1st quarter. Waverly Advisors LLC now owns 63,934 shares of the insurance provider’s stock worth $12,674,000 after acquiring an additional 31,897 shares during the period. Wealth Alliance LLC lifted its stake in shares of Progressive by 257.6% during the 1st quarter. Wealth Alliance LLC now owns 3,158 shares of the insurance provider’s stock worth $626,000 after purchasing an additional 2,275 shares during the period. Boreal Capital Management LLC lifted its stake in shares of Progressive by 37.0% during the 1st quarter. Boreal Capital Management LLC now owns 7,094 shares of the insurance provider’s stock worth $1,406,000 after purchasing an additional 1,916 shares during the period. Cannell & Spears LLC boosted its holdings in shares of Progressive by 53.6% during the first quarter. Cannell & Spears LLC now owns 3,082 shares of the insurance provider’s stock worth $614,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Progressive by 111.8% during the first quarter. Renaissance Technologies LLC now owns 559,782 shares of the insurance provider’s stock worth $110,971,000 after purchasing an additional 295,482 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. William Blair reaffirmed a “market perform” rating on shares of Progressive in a research report on Wednesday, July 15th. Morgan Stanley raised Progressive from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $190.00 to $210.00 in a research note on Friday. Keefe, Bruyette & Woods lowered their price target on Progressive from $231.00 to $226.00 and set a “market perform” rating for the company in a report on Thursday, July 16th. Bank of America dropped their price objective on shares of Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $250.00 price objective on shares of Progressive in a report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $236.11.

Progressive Trading Up 0.0%

Shares of PGR opened at $213.85 on Monday. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $254.93. The firm has a market capitalization of $124.96 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 2.88 and a beta of 0.26. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $209.88 and its 200 day simple moving average is $205.87.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio is currently 2.01%.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the transaction, the insider directly owned 27,511 shares of the company’s stock, valued at $5,633,152.36. The trade was a 4.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the sale, the insider owned 41,290 shares of the company’s stock, valued at $8,258,000. The trade was a 12.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,230 shares of company stock worth $3,165,817 in the last three months. 0.32% of the stock is currently owned by company insiders.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.