The Progressive Co. (NYSE:PGR) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its holdings in The Progressive Co. (NYSE:PGR) by 92.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,702 shares of the insurance provider’s stock after acquiring an additional 817 shares during the period. E Fund Management Co. Ltd.’s holdings in Progressive were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC grew its stake in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the last quarter. LRI Investments LLC grew its stake in 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 last quarter. SYM FINANCIAL Corp grew its stake 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 during the last quarter. Monument Capital Management boosted its stake in shares of 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 purchasing an additional 44 shares during the last quarter. Finally, Kelleher Financial Advisors boosted its stake in shares of 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 purchasing an additional 45 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Trading Down 0.5 %

NYSE PGR opened at $279.77 on Friday. The Progressive Co. has a one year low of $194.49 and a one year high of $287.49. The company’s 50 day moving average price is $254.23 and its 200 day moving average price is $252.70. 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 firm has a market capitalization of $164.00 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating 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, sell-side analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s payout ratio is 2.78%.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock valued at $14,102,075 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PGR. Morgan Stanley raised their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Thursday. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price target on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Six equities research 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 target price of $277.59.

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.