Azimuth Capital Management LLC increased its stake in The Progressive Co. (NYSE:PGR) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,070 shares of the insurance provider’s stock after purchasing an additional 140 shares during the quarter. Azimuth Capital Management LLC’s holdings in The Progressive were worth $2,479,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PGR. Tompkins Financial Corp acquired a new stake in The Progressive in the 4th quarter valued at about $37,000. Diversified LLC acquired a new position in The Progressive during the fourth quarter valued at approximately $41,000. Capital Directions Investment Advisors LLC grew its holdings in The Progressive by 100.0% during the fourth quarter. Capital Directions Investment Advisors LLC now owns 422 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 211 shares during the last quarter. HM Payson & Co. grew its holdings in The Progressive by 74.0% during the third quarter. HM Payson & Co. now owns 583 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 248 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its holdings in The Progressive by 28.2% during the fourth quarter. Carroll Financial Associates Inc. now owns 614 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 135 shares during the last quarter. 81.47% of the stock is owned by institutional investors and hedge funds.

The Progressive stock traded up $2.21 during mid-day trading on Tuesday, hitting $90.00. 102,856 shares of the company were exchanged, compared to its average volume of 3,034,074. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $90.58 and a 200 day moving average of $93.15. The Progressive Co. has a 1-year low of $62.18 and a 1-year high of $102.05. The company has a market capitalization of $52.70 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.58 and a beta of 0.45.

The Progressive (NYSE:PGR) last released its quarterly earnings data on Tuesday, January 26th. The insurance provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.15. The Progressive had a return on equity of 28.89% and a net margin of 12.13%. The firm had revenue of $9.54 billion during the quarter, compared to analyst estimates of $10.32 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts expect that The Progressive Co. will post 7.4 earnings per share for the current year.

In related news, insider Michael D. Sieger sold 2,700 shares of The Progressive stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $94.61, for a total value of $255,447.00. Also, CMO M Jeffrey Charney sold 5,858 shares of The Progressive stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $87.85, for a total value of $514,625.30. Insiders have sold 23,467 shares of company stock valued at $2,195,026 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

PGR has been the topic of several analyst reports. Morgan Stanley lowered their price target on The Progressive from $103.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded The Progressive from a “buy” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $96.00 in a report on Tuesday, December 8th. Zacks Investment Research cut The Progressive from a “hold” rating to a “sell” rating and set a $92.00 price objective for the company. in a research report on Thursday, January 28th. The Goldman Sachs Group cut The Progressive from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $92.00 to $90.00 in a research report on Friday, January 8th. Finally, Raymond James reissued a “buy” rating on shares of The Progressive in a research report on Monday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The Progressive currently has a consensus rating of “Hold” and a consensus target price of $96.00.

The Progressive Profile

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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Institutional Ownership by Quarter for The Progressive (NYSE:PGR)

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