FUKOKU MUTUAL LIFE INSURANCE Co Has $612,000 Stake in The Progressive Co. (NYSE:PGR)

FUKOKU MUTUAL LIFE INSURANCE Co raised its position in The Progressive Co. (NYSE:PGR) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,553 shares of the insurance provider’s stock after purchasing an additional 62 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Progressive were worth $612,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. lifted its position in shares of Progressive by 2.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 231,073 shares of the insurance provider’s stock worth $55,367,000 after purchasing an additional 4,800 shares during the period. New York Life Investment Management LLC lifted its position in shares of Progressive by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 86,944 shares of the insurance provider’s stock worth $20,833,000 after purchasing an additional 287 shares during the period. Harfst & Associates Inc. lifted its position in shares of Progressive by 8.7% in the 4th quarter. Harfst & Associates Inc. now owns 9,730 shares of the insurance provider’s stock worth $2,331,000 after purchasing an additional 781 shares during the period. GenTrust LLC lifted its position in shares of Progressive by 22.9% in the 4th quarter. GenTrust LLC now owns 1,192 shares of the insurance provider’s stock worth $286,000 after purchasing an additional 222 shares during the period. Finally, Cable Hill Partners LLC lifted its position in shares of Progressive by 26.5% in the 4th quarter. Cable Hill Partners LLC now owns 1,786 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PGR. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. TD Cowen lifted their price objective on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.59.

Insider Buying and Selling

In related news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is owned by insiders.

Progressive Price Performance

PGR opened at $273.13 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The company has a market capitalization of $160.00 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.70 and a beta of 0.42. The firm’s fifty day moving average price is $248.63 and its two-hundred day moving average price is $250.30. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $280.25.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

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.