Mirae Asset Global Investments Co. Ltd. Has $17.96 Million Position in The Progressive Co. (NYSE:PGR)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,534 shares of the insurance provider’s stock after acquiring an additional 101 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Progressive were worth $17,962,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Davis Capital Management acquired a new stake in shares of Progressive during the 3rd quarter valued at about $25,000. WR Wealth Planners LLC boosted its position in shares of Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank lifted its holdings in Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Register Financial Advisors LLC bought a new position in Progressive during the 1st quarter valued at about $35,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PGR has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Roth Mkm lifted their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Barclays lifted their price target on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a report on Wednesday. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Citigroup dropped their target price on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and an average price target of $263.19.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,843 shares of company stock worth $18,674,912. 0.34% of the stock is currently owned by company insiders.

Progressive Stock Down 1.3 %

Shares of NYSE:PGR opened at $243.78 on Friday. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46. The company has a 50 day moving average of $250.50 and a 200-day moving average of $225.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $142.77 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.68 and a beta of 0.35.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio is currently 2.91%.

About Progressive

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.