XTX Topco Ltd Buys Shares of 5,185 The Progressive Co. (NYSE:PGR)

XTX Topco Ltd acquired a new stake in The Progressive Co. (NYSE:PGR) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 5,185 shares of the insurance provider’s stock, valued at approximately $1,242,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Progressive during the 4th quarter worth approximately $1,843,045,000. GQG Partners LLC grew its stake in shares of Progressive by 67.6% in the fourth quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider’s stock valued at $1,239,143,000 after buying an additional 2,085,833 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Progressive in the 4th quarter valued at $408,416,000. Vanguard Group Inc. boosted its holdings in Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider’s stock valued at $12,795,262,000 after acquiring an additional 583,376 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in Progressive by 36,819.8% during the fourth quarter. Proficio Capital Partners LLC now owns 568,195 shares of the insurance provider’s stock worth $136,145,000 after purchasing an additional 566,656 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the subject of several recent research reports. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Bank of America cut shares of Progressive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $300.00 to $287.00 in a research report on Friday, April 4th. Barclays upped their price objective on Progressive from $285.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Friday. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a report on Thursday, December 26th. Finally, BMO Capital Markets cut their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $283.71.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 585 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $142,324.65. Following the transaction, the chief accounting officer now directly owns 3,983 shares in the company, valued at $969,024.07. The trade was a 12.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Carl G. Joyce sold 360 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total transaction of $99,421.20. Following the completion of the sale, the chief accounting officer now owns 655 shares of the company’s stock, valued at approximately $180,891.35. The trade was a 35.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,317 shares of company stock worth $14,844,282. 0.34% of the stock is currently owned by insiders.

Progressive Stock Up 1.2 %

Progressive stock opened at $278.85 on Tuesday. The stock has a 50-day simple moving average of $272.44 and a 200-day simple moving average of $257.43. The company has a market capitalization of $163.47 billion, a P/E ratio of 19.36, a PEG ratio of 1.70 and a beta of 0.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99.

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

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive’s dividend payout ratio is presently 2.78%.

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.