500 Shares in The Progressive Co. (NYSE:PGR) Acquired by Berbice Capital Management LLC

Berbice Capital Management LLC bought a new position in shares of The Progressive Co. (NYSE:PGR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 500 shares of the insurance provider’s stock, valued at approximately $120,000.

A number of other large investors have also recently made changes to their positions in PGR. Versant Capital Management Inc increased its stake in Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 391 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Progressive by 90.9% during 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 during the period. Diversified Trust Co lifted its holdings in shares of Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after purchasing an additional 11,770 shares during the period. Sycomore Asset Management lifted its holdings in Progressive by 9.5% in the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after acquiring an additional 2,450 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Progressive by 7.0% in the third 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 valued at $1,286,036,000 after acquiring an additional 330,667 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PGR shares. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a report on Thursday, December 26th. Evercore ISI raised their price target on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. TD Cowen raised their price target on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a research report on Tuesday, December 10th. Finally, Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.65.

Progressive Stock Down 0.1 %

PGR opened at $238.84 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $139.91 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The business has a 50-day moving average of $248.98 and a two-hundred day moving average of $243.14. The Progressive Co. has a 12 month low of $175.50 and a 12 month high of $270.62.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is 2.91%.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $2,194,878.60. Following the transaction, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $114,691,485.60. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 282,958 shares in the company, 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. Insiders sold 42,506 shares of company stock worth $10,531,159 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.