Mn Services Vermogensbeheer B.V. Buys 4,800 Shares of The Progressive Co. (NYSE:PGR)

Mn Services Vermogensbeheer B.V. increased its stake in shares of The Progressive Co. (NYSE:PGR) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 231,073 shares of the insurance provider’s stock after purchasing an additional 4,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Progressive were worth $55,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PGR. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. LRI Investments LLC grew its holdings 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 buying an additional 42 shares in the last quarter. SYM FINANCIAL Corp increased its stake 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 worth $384,000 after acquiring an additional 44 shares during the last quarter. Monument Capital Management grew its holdings in shares of Progressive by 0.3% in the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after purchasing an additional 44 shares during the period. Finally, Washington Trust Bank increased its position in Progressive by 4.6% during the third quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lori A. Niederst sold 3,855 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $247.06, for a total transaction of $952,416.30. Following the sale, the insider now owns 39,040 shares of the company’s stock, valued at $9,645,222.40. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 56,361 shares of company stock valued at $13,983,575. Insiders own 0.34% of the company’s stock.

Progressive Trading Down 1.9 %

PGR opened at $273.13 on Thursday. The business’s 50-day simple moving average is $248.63 and its 200-day simple moving average is $250.30. The company has a market cap of $160.00 billion, a P/E ratio of 18.97, a PEG ratio of 1.70 and a beta of 0.42. The Progressive Co. has a one year low of $186.94 and a one year high of $280.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.78%.

Analyst Upgrades and Downgrades

PGR has been the topic of several analyst reports. BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a report on Tuesday, December 10th. Bank of America increased their target price on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Evercore ISI lifted their target price on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their target price on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.59.

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.