Quantbot Technologies LP Has $15.55 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Quantbot Technologies LP raised its position in The Progressive Co. (NYSE:PGR) by 116.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,908 shares of the insurance provider’s stock after acquiring an additional 34,897 shares during the period. Progressive comprises approximately 0.6% of Quantbot Technologies LP’s holdings, making the stock its 12th largest holding. Quantbot Technologies LP’s holdings in Progressive were worth $15,553,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock valued at $6,263,763,000 after acquiring an additional 315,411 shares during the period. Geode Capital Management LLC grew its stake in shares of Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after purchasing an additional 1,682,213 shares during the period. FMR LLC raised its holdings in shares of Progressive by 1.6% in the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock worth $2,669,204,000 after buying an additional 170,618 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 worth $1,286,036,000 after buying an additional 330,667 shares during the period. Finally, Jennison Associates LLC boosted its stake in Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after buying an additional 842,109 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, CIO Jonathan S. Bauer sold 1,227 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $281.00, for a total value of $344,787.00. Following the sale, the executive now directly owns 28,393 shares of the company’s stock, valued at approximately $7,978,433. This represents a 4.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the sale, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,257 shares of company stock worth $15,752,781 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BMO Capital Markets cut their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Barclays upped their price objective on shares of Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Thursday. StockNews.com cut shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $277.82.

Progressive Stock Up 0.7 %

Shares of Progressive stock opened at $279.54 on Friday. The business has a fifty day simple moving average of $257.30 and a 200 day simple moving average of $253.68. The Progressive Co. has a 12 month low of $199.54 and a 12 month high of $287.49. The stock has a market cap of $163.87 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s 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.