The Progressive Co. (NYSE:PGR) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in shares of The Progressive Co. (NYSE:PGR) by 16.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 351,507 shares of the insurance provider’s stock after acquiring an additional 50,755 shares during the quarter. Teacher Retirement System of Texas’ holdings in Progressive were worth $84,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. AMG National Trust Bank acquired a new stake in Progressive during the third quarter valued at approximately $203,000. Caprock Group LLC lifted its position in shares of Progressive by 7.3% during the 3rd quarter. Caprock Group LLC now owns 14,547 shares of the insurance provider’s stock valued at $3,691,000 after acquiring an additional 995 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Progressive during the 3rd quarter worth $8,935,000. Avior Wealth Management LLC boosted its stake in shares of Progressive by 3.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,221 shares of the insurance provider’s stock worth $817,000 after acquiring an additional 96 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the 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 completion of the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the transaction, the chief financial officer now directly owns 282,958 shares in the company, 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 have sold a total of 65,495 shares of company stock worth $16,668,034 over the last 90 days. Insiders own 0.34% of the company’s stock.

Progressive Trading Down 3.6 %

Shares of NYSE PGR opened at $273.19 on Thursday. The business has a 50 day simple moving average of $260.59 and a 200 day simple moving average of $254.70. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The stock has a market cap of $160.14 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.70 and a beta of 0.35. 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 posted its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS 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%. On average, research analysts predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Progressive’s dividend payout ratio (DPR) is currently 2.78%.

Analyst Ratings Changes

A number of research firms recently weighed in on PGR. Bank of America decreased their price target on Progressive from $333.00 to $318.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Morgan Stanley raised their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. UBS Group raised their price objective on shares of Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, March 14th. Finally, BMO Capital Markets lowered their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and an average price target of $281.76.

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.