The Progressive Corporation $PGR Shares Purchased by Capital International Inc. CA

Capital International Inc. CA increased its holdings in shares of The Progressive Corporation (NYSE:PGR) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,837 shares of the insurance provider’s stock after purchasing an additional 10,314 shares during the quarter. Capital International Inc. CA’s holdings in Progressive were worth $43,685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PGR. Dagco Inc. acquired a new position in Progressive in the 4th quarter valued at about $28,000. Ameriflex Group Inc. grew its position in Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 65 shares in the last quarter. Entrust Financial LLC acquired a new position in Progressive in the 4th quarter valued at about $33,000. Kingdom Financial Group LLC. acquired a new position in Progressive in the 4th quarter valued at about $34,000. Finally, Bangor Savings Bank grew its position in Progressive by 60.4% in the 4th quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 58 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Progressive

In other news, CAO Carl G. Joyce sold 270 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the transaction, the chief accounting officer directly owned 558 shares of the company’s stock, valued at approximately $115,227. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Zacks Research raised Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Barclays set a $247.00 target price on Progressive in a research report on Wednesday, March 18th. Evercore reaffirmed a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Jefferies Financial Group dropped their target price on Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a research report on Tuesday, March 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 target price on shares of Progressive in a research report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $238.11.

Progressive Stock Performance

Shares of Progressive stock opened at $204.27 on Friday. The Progressive Corporation has a one year low of $189.20 and a one year high of $283.95. The company has a market cap of $119.37 billion, a PE ratio of 10.39, a P/E/G ratio of 5.91 and a beta of 0.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The business has a 50-day simple moving average of $198.89 and a 200-day simple moving average of $208.87.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. During the same period in the previous year, the company posted $4.37 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that The Progressive Corporation will post 16.35 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s payout ratio is currently 2.03%.

Progressive 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.