AGF Management Ltd. Purchases 29,104 Shares of The Progressive Co. (NYSE:PGR)

AGF Management Ltd. lifted its position in The Progressive Co. (NYSE:PGR) by 81.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,775 shares of the insurance provider’s stock after purchasing an additional 29,104 shares during the quarter. AGF Management Ltd.’s holdings in Progressive were worth $15,521,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PGR. Atlantic Edge Private Wealth Management LLC grew its holdings 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 acquiring an additional 41 shares during the last quarter. LRI Investments LLC raised its position in shares of Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares during the period. SYM FINANCIAL Corp raised its position in shares of 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 during the period. Monument Capital Management raised its holdings in Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after buying an additional 44 shares during the period. Finally, Kelleher Financial Advisors raised its holdings in Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock worth $238,000 after buying an additional 45 shares during the period. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Down 0.5 %

PGR opened at $277.33 on Wednesday. The Progressive Co. has a fifty-two week low of $195.57 and a fifty-two week high of $287.49. 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 company has a market capitalization of $162.57 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.70 and a beta of 0.35. The stock has a fifty day moving average of $255.77 and a 200-day moving average of $253.33.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, equities analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is currently 2.78%.

Insider Transactions at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,257 shares of company stock worth $15,752,781. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the topic of several research analyst reports. Barclays raised their target price on shares of Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. 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. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research note on Thursday, December 26th. Roth Mkm raised their price target on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and a consensus price target of $276.59.

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.