Clarius Group LLC Buys 96 Shares of The Progressive Co. (NYSE:PGR)

Clarius Group LLC lifted its stake in The Progressive Co. (NYSE:PGR) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,231 shares of the insurance provider’s stock after acquiring an additional 96 shares during the period. Clarius Group LLC’s holdings in Progressive were worth $1,014,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake 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 worth $3,652,235,000 after acquiring an additional 1,682,213 shares in the last quarter. Jennison Associates LLC increased 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Progressive by 75.3% during the 3rd 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 worth $151,325,000 after purchasing an additional 594,330 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Progressive by 206.8% during the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after buying an additional 590,235 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Stock Down 0.7 %

Shares of PGR stock opened at $243.79 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a twelve month low of $166.92 and a twelve month high of $270.62. The stock has a 50 day moving average of $250.18 and a 200 day moving average of $242.27. The stock has a market cap of $142.82 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.61 and a beta of 0.41.

Progressive Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PGR shares. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price 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. Keefe, Bruyette & Woods dropped their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Progressive in a report on Friday, December 13th. Finally, Jefferies Financial Group boosted their price objective on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and an average price target of $275.24.

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,919 shares of company stock valued at $8,222,168. Corporate 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.