The Progressive Co. (NYSE:PGR) is AMS Capital Ltda’s 6th Largest Position

AMS Capital Ltda boosted its stake in The Progressive Co. (NYSE:PGR) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,645 shares of the insurance provider’s stock after purchasing an additional 7,473 shares during the period. Progressive comprises 5.7% of AMS Capital Ltda’s investment portfolio, making the stock its 6th largest position. AMS Capital Ltda’s holdings in Progressive were worth $11,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of Progressive by 98.2% during the fourth 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 raised its holdings in Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after purchasing an additional 3,720 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Progressive by 7.0% in 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 worth $1,286,036,000 after acquiring an additional 330,667 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Progressive by 2,262.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock valued at $103,990,000 after buying an additional 415,628 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Progressive by 30.5% in the fourth quarter. Nordea Investment Management AB now owns 1,069,697 shares of the insurance provider’s stock worth $255,882,000 after buying an additional 249,958 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In other news, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction that occurred on 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 approximately $115,255,231.44. This represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the transaction, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is owned by insiders.

Progressive Stock Performance

NYSE PGR opened at $262.02 on Friday. The firm has a market cap of $153.49 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $244.79 and a 200-day moving average price of $246.64. The Progressive Co. has a twelve month low of $182.23 and a twelve month high of $270.62.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, equities research analysts predict that The Progressive Co. will post 14.44 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive’s dividend payout ratio is 2.78%.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays lowered their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research report on Thursday, December 26th. Finally, TD Cowen lifted 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.71.

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.