Vident Investment Advisory LLC raised its holdings in shares of Progressive Co. (NYSE:PGR) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,344 shares of the insurance provider’s stock after buying an additional 2,098 shares during the quarter. Vident Investment Advisory LLC’s holdings in Progressive were worth $4,300,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Verition Fund Management LLC grew its position in Progressive by 66.6% during the fourth quarter. Verition Fund Management LLC now owns 13,949 shares of the insurance provider’s stock worth $786,000 after buying an additional 5,576 shares in the last quarter. Zeke Capital Advisors LLC grew its position in Progressive by 37.1% during the fourth quarter. Zeke Capital Advisors LLC now owns 14,295 shares of the insurance provider’s stock worth $805,000 after buying an additional 3,871 shares in the last quarter. LPL Financial LLC grew its position in Progressive by 20.1% during the fourth quarter. LPL Financial LLC now owns 59,847 shares of the insurance provider’s stock worth $3,371,000 after buying an additional 10,008 shares in the last quarter. Elkhorn Investments LLC grew its position in Progressive by 11.5% during the fourth quarter. Elkhorn Investments LLC now owns 33,515 shares of the insurance provider’s stock worth $1,599,000 after buying an additional 3,455 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its holdings in shares of Progressive by 76.8% in the 4th quarter. Flinton Capital Management LLC now owns 40,064 shares of the insurance provider’s stock worth $2,256,000 after purchasing an additional 17,408 shares in the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.
Shares of Progressive stock traded down $1.21 during midday trading on Friday, hitting $60.04. The company had a trading volume of 3,661,435 shares, compared to its average volume of 2,938,707. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $35,664.40, a P/E ratio of 22.83, a PEG ratio of 2.26 and a beta of 0.65. Progressive Co. has a 52-week low of $38.61 and a 52-week high of $62.74.
Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. Progressive had a return on equity of 15.96% and a net margin of 5.93%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. equities analysts expect that Progressive Co. will post 3.7 EPS for the current year.
A number of research firms have recently issued reports on PGR. Wells Fargo set a $61.00 price objective on Progressive and gave the stock a “hold” rating in a report on Monday, April 2nd. ValuEngine upgraded Progressive from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. MKM Partners increased their target price on Progressive to $70.00 and gave the company a “buy” rating in a report on Tuesday, March 27th. Zacks Investment Research cut Progressive from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, UBS increased their target price on Progressive from $63.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $51.56.
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The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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