The Progressive Co. (NYSE:PGR) Stock Holdings Cut by Nvest Financial LLC

Nvest Financial LLC lessened its position in The Progressive Co. (NYSE:PGR) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,837 shares of the insurance provider’s stock after selling 265 shares during the period. Progressive makes up 1.1% of Nvest Financial LLC’s holdings, making the stock its 28th largest position. Nvest Financial LLC’s holdings in Progressive were worth $2,117,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Progressive by 13.2% during the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after acquiring an additional 1,682,213 shares during the last quarter. Jennison Associates LLC raised its position in shares of Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after purchasing an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Progressive by 75.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after purchasing an additional 641,943 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after purchasing an additional 594,330 shares during the period. Finally, SG Americas Securities LLC increased its stake in Progressive by 206.8% in the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after purchasing an additional 590,235 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR opened at $244.86 on Wednesday. The firm has a market cap of $143.44 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The company’s fifty day moving average is $247.89 and its 200-day moving average is $244.25. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 12 month low of $175.50 and a 12 month high of $270.62.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Wall Street Analyst Weigh In

PGR has been the subject of a number of analyst reports. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods decreased their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. increased their target price on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a report on Thursday, December 26th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and an average price target of $274.65.

Insiders Place Their Bets

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew J. Quigg sold 681 shares of Progressive 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 $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,506 shares of company stock valued at $10,531,159 over the last quarter. 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.