Natixis Advisors L.P. Has $111.16 Million Stock Position in The Progressive Co. (NYSE:PGR)

Natixis Advisors L.P. lifted its stake in shares of The Progressive Co. (NYSE:PGRFree Report) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,904 shares of the insurance provider’s stock after acquiring an additional 42,639 shares during the period. Natixis Advisors L.P. owned approximately 0.12% of Progressive worth $111,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in Progressive by 14.1% during the 3rd quarter. Wellington Management Group LLP now owns 21,554,503 shares of the insurance provider’s stock worth $3,002,542,000 after acquiring an additional 2,666,449 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Progressive by 10.5% during the third quarter. Bank of New York Mellon Corp now owns 6,916,460 shares of the insurance provider’s stock worth $963,463,000 after purchasing an additional 655,706 shares during the last quarter. Northern Trust Corp grew its position in Progressive by 2.8% in the third quarter. Northern Trust Corp now owns 5,982,841 shares of the insurance provider’s stock valued at $833,410,000 after purchasing an additional 162,916 shares in the last quarter. Deutsche Bank AG increased its stake in Progressive by 2.9% in the 3rd quarter. Deutsche Bank AG now owns 5,641,166 shares of the insurance provider’s stock valued at $785,814,000 after buying an additional 156,332 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Progressive by 31.8% in the 3rd quarter. Invesco Ltd. now owns 4,781,075 shares of the insurance provider’s stock valued at $666,004,000 after buying an additional 1,154,591 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Karen Bailo sold 8,464 shares of Progressive stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total value of $1,603,843.36. Following the transaction, the insider now owns 32,342 shares in the company, valued at approximately $6,128,485.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Devin C. Johnson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the sale, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karen Bailo sold 8,464 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total value of $1,603,843.36. Following the completion of the sale, the insider now directly owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The disclosure for this sale can be found here. Insiders have sold a total of 39,139 shares of company stock worth $7,458,139 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen started coverage on Progressive in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $174.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company increased their price target on Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. UBS Group increased their price target on Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods increased their price target on Progressive from $190.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $211.88.

Read Our Latest Stock Analysis on Progressive

Progressive Stock Performance

NYSE:PGR traded down $2.70 during mid-day trading on Thursday, hitting $209.10. 703,074 shares of the stock were exchanged, compared to its average volume of 2,597,570. The stock has a market capitalization of $122.47 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 0.82 and a beta of 0.34. The firm’s 50-day simple moving average is $203.61 and its 200 day simple moving average is $179.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36. The Progressive Co. has a fifty-two week low of $111.41 and a fifty-two week high of $216.21.

Progressive (NYSE:PGRGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The firm had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same quarter last year, the company earned $0.65 EPS. The company’s revenue was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that The Progressive Co. will post 11.34 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

About Progressive

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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