Crossmark Global Holdings Inc. Acquires 10,734 Shares of The Progressive Co. (NYSE:PGR)

Crossmark Global Holdings Inc. grew its position in The Progressive Co. (NYSE:PGR) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 103,583 shares of the insurance provider’s stock after buying an additional 10,734 shares during the period. Crossmark Global Holdings Inc.’s holdings in Progressive were worth $24,819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc grew its position in Progressive by 98.2% in the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 391 shares during the period. Townsquare Capital LLC increased its holdings in Progressive by 90.9% during the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after buying an additional 3,720 shares during the last quarter. Diversified Trust Co raised its position in Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after acquiring an additional 11,770 shares during the period. Sycomore Asset Management boosted its stake in shares of Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after acquiring an additional 2,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after acquiring an additional 330,667 shares during the period. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PGR shares. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research report on Thursday, December 26th. BMO Capital Markets reduced their price target 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. Keefe, Bruyette & Woods reduced their price objective 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. Barclays cut their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, TD Cowen raised their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.24.

Progressive Trading Down 0.7 %

Shares of PGR opened at $243.79 on Tuesday. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a 50 day simple moving average of $250.18 and a 200-day simple moving average of $242.71. The stock has a market cap of $142.82 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41.

Progressive Announces Dividend

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

Insider Activity at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were 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 of the company’s stock, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of 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 90 days, insiders have sold 29,938 shares of company stock worth $7,473,490. 0.34% of the stock is owned by insiders.

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.