The Progressive Co. (NYSE:PGR) Stock Holdings Boosted by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its stake in The Progressive Co. (NYSE:PGR) by 0.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,283 shares of the insurance provider’s stock after buying an additional 87 shares during the period. IFM Investors Pty Ltd’s holdings in Progressive were worth $30,015,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PGR. SG Americas Securities LLC raised its position in Progressive by 4,545.0% during the first quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock valued at $145,858,000 after acquiring an additional 690,060 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Progressive by 548.2% in the first quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after acquiring an additional 686,433 shares during the last quarter. Capital International Investors boosted its stake in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after buying an additional 670,006 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Progressive by 29,701.6% during the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after buying an additional 594,330 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Progressive during the first quarter valued at $116,852,000. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the sale, the insider now directly owns 32,316 shares in the company, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock valued at $18,674,912 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Performance

NYSE PGR traded up $0.79 during trading hours on Thursday, hitting $248.04. The company’s stock had a trading volume of 374,465 shares, compared to its average volume of 2,476,825. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The company’s 50 day simple moving average is $250.14 and its two-hundred day simple moving average is $224.95. The company has a market cap of $145.28 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s payout ratio is currently 4.09%.

Analysts Set New Price Targets

Several analysts have weighed in on PGR shares. Evercore ISI boosted their price objective on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group increased their target price on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, BMO Capital Markets reduced their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive 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.