James Hambro & Partners LLP Has $118.94 Million Stake in The Progressive Corporation $PGR

James Hambro & Partners LLP raised its stake in shares of The Progressive Corporation (NYSE:PGR) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 522,219 shares of the insurance provider’s stock after purchasing an additional 15,922 shares during the period. Progressive accounts for 4.2% of James Hambro & Partners LLP’s portfolio, making the stock its 11th largest holding. James Hambro & Partners LLP owned 0.09% of Progressive worth $118,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Selective Wealth Management Inc. raised its holdings in Progressive by 2.1% in the 3rd quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider’s stock worth $538,000 after acquiring an additional 45 shares during the period. Liberty One Investment Management LLC boosted its holdings in Progressive by 3.8% during the third quarter. Liberty One Investment Management LLC now owns 1,291 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC grew its position in shares of Progressive by 20.8% in the third quarter. True Wealth Design LLC now owns 279 shares of the insurance provider’s stock valued at $69,000 after purchasing an additional 48 shares during the last quarter. Wealthstream Advisors Inc. grew its position in shares of Progressive by 4.6% in the third quarter. Wealthstream Advisors Inc. now owns 1,111 shares of the insurance provider’s stock valued at $274,000 after purchasing an additional 49 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Progressive by 10.6% in the third quarter. Armstrong Advisory Group Inc. now owns 541 shares of the insurance provider’s stock worth $134,000 after purchasing an additional 52 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In related news, insider Maribel Pumarejo sold 739 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total transaction of $150,201.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karen Bailo sold 3,517 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. This represents a 9.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,687 shares of company stock worth $2,413,044. 0.33% of the stock is currently owned by company insiders.

Progressive Stock Up 1.1%

Shares of NYSE:PGR opened at $200.98 on Tuesday. The company has a market capitalization of $117.57 billion, a PE ratio of 10.45, a PEG ratio of 5.74 and a beta of 0.33. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $289.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The company has a 50 day moving average price of $205.69 and a two-hundred day moving average price of $218.96.

Progressive Dividend Announcement

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

Analyst Ratings Changes

PGR has been the topic of several research analyst reports. Citigroup lowered their price objective on shares of Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. HSBC downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Evercore restated a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $225.00 target price on shares of Progressive in a research note on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $239.22.

Progressive 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.