Caprock Group LLC Has $4.29 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Caprock Group LLC raised its stake in shares of The Progressive Co. (NYSE:PGR) by 23.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 17,907 shares of the insurance provider’s stock after purchasing an additional 3,360 shares during the period. Caprock Group LLC’s holdings in Progressive were worth $4,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Webster Bank N. A. purchased a new position in Progressive during the 4th quarter worth $26,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progressive in the 3rd quarter valued at about $49,000. Friedenthal Financial purchased a new stake in Progressive in the 3rd quarter valued at about $49,000. Finally, Morse Asset Management Inc bought a new position in shares of Progressive during the 3rd quarter worth approximately $55,000. 85.34% of the stock is owned by institutional investors.

Insider Transactions at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Friday, November 29th. The stock was 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 owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lori A. Niederst sold 3,855 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $247.06, for a total value of $952,416.30. Following the sale, the insider now owns 39,040 shares in the company, valued at $9,645,222.40. The trade was a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock valued at $13,983,575 in the last quarter. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on PGR shares. Keefe, Bruyette & Woods decreased their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Morgan Stanley raised their target price on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. TD Cowen raised their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Bank of America boosted their target price on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.71.

Progressive Trading Down 1.0 %

Progressive stock opened at $246.78 on Friday. The stock has a market cap of $144.57 billion, a P/E ratio of 17.14, a PEG ratio of 0.64 and a beta of 0.41. The Progressive Co. has a fifty-two week low of $176.37 and a fifty-two week high of $270.62. The firm’s fifty day moving average price is $247.40 and its 200-day moving average price is $244.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 34.32% and a net margin of 11.25%. Equities research analysts forecast that The Progressive Co. will post 14.03 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio is presently 2.78%.

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.