The Progressive Corporation $PGR Stock Holdings Lifted by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in The Progressive Corporation (NYSE:PGR) by 3.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 238,970 shares of the insurance provider’s stock after acquiring an additional 8,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Progressive were worth $54,418,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PGR. Brighton Jones LLC increased its holdings in shares of Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after buying an additional 457 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Progressive in the fourth quarter valued at $269,000. Bison Wealth LLC increased its holdings in shares of Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after buying an additional 80 shares in the last quarter. HUB Investment Partners LLC increased its holdings in shares of Progressive by 7.8% in the second quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock valued at $609,000 after buying an additional 166 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in shares of Progressive by 12.0% in the second quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after buying an additional 1,622 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 4.6%

Progressive stock opened at $204.27 on Friday. The company’s fifty day simple moving average is $198.89 and its 200-day simple moving average is $208.87. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The Progressive Corporation has a 12 month low of $189.20 and a 12 month high of $283.95. The stock has a market cap of $119.37 billion, a P/E ratio of 10.39, a P/E/G ratio of 5.66 and a beta of 0.28.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same period in the previous year, the company posted $4.37 EPS. Progressive’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Progressive Corporation will post 16.35 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, July 2nd. Progressive’s payout ratio is currently 2.03%.

Insider Activity at Progressive

In other news, CAO Carl G. Joyce sold 270 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the transaction, the chief accounting officer directly owned 558 shares in the company, valued at $115,227. The trade was a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group dropped their price target on Progressive from $216.00 to $215.00 and set a “hold” rating on the stock in a report on Tuesday, March 24th. Weiss Ratings cut shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada set a $208.00 price objective on shares of Progressive in a research report on Friday, May 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $220.00 price objective on shares of Progressive in a research report on Wednesday, May 20th. Finally, Evercore reiterated a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Progressive has a consensus rating of “Hold” and a consensus target price of $238.11.

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.