The Progressive Corporation $PGR Shares Acquired by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lifted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 1.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 226,980 shares of the insurance provider’s stock after acquiring an additional 3,907 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Progressive were worth $51,688,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Davis Capital Management purchased a new position in shares of Progressive in the 3rd quarter valued at approximately $25,000. Dagco Inc. purchased a new stake in Progressive during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. increased its stake in Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in Progressive during the 2nd quarter valued at approximately $34,000. Finally, TruNorth Capital Management LLC raised its holdings in shares of Progressive by 450.0% in the third quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PGR shares. Argus upgraded shares of Progressive to a “hold” rating in a research note on Thursday, March 5th. Morgan Stanley cut their target price on Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 28th. Wells Fargo & Company raised their target price on Progressive from $214.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 19th. William Blair cut Progressive from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, Mizuho dropped their price target on Progressive from $235.00 to $223.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Progressive currently has an average rating of “Hold” and a consensus price target of $239.22.

Insider Activity at Progressive

In other news, insider Maribel Pumarejo sold 739 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total value of $150,201.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares in the company, valued at $6,857,776. The trade was a 9.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,687 shares of company stock worth $2,413,044 in the last three months. Company insiders own 0.33% of the company’s stock.

Progressive Stock Up 1.1%

PGR stock opened at $200.98 on Tuesday. The company has a market capitalization of $117.57 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 5.74 and a beta of 0.33. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $289.96. The firm’s fifty day simple moving average is $205.69 and its 200-day simple moving average is $218.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive’s dividend payout ratio is presently 2.08%.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.