The Progressive Co. (NYSE:PGR) Shares Purchased by Aubrey Capital Management Ltd

Aubrey Capital Management Ltd increased its holdings in shares of The Progressive Co. (NYSE:PGR) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,800 shares of the insurance provider’s stock after acquiring an additional 1,000 shares during the period. Progressive makes up approximately 1.3% of Aubrey Capital Management Ltd’s portfolio, making the stock its 19th biggest holding. Aubrey Capital Management Ltd’s holdings in Progressive were worth $3,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGR. Handelsbanken Fonder AB grew its holdings in Progressive by 2.2% in the third quarter. Handelsbanken Fonder AB now owns 183,769 shares of the insurance provider’s stock valued at $25,599,000 after purchasing an additional 3,969 shares during the last quarter. Connecticut Wealth Management LLC acquired a new stake in Progressive in the third quarter valued at $251,000. Ballentine Partners LLC grew its holdings in Progressive by 28.6% in the third quarter. Ballentine Partners LLC now owns 8,993 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,001 shares during the last quarter. Fenimore Asset Management Inc. grew its holdings in Progressive by 37.5% in the third quarter. Fenimore Asset Management Inc. now owns 579,071 shares of the insurance provider’s stock valued at $80,665,000 after purchasing an additional 158,058 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Progressive by 28.5% in the third quarter. Valeo Financial Advisors LLC now owns 3,077 shares of the insurance provider’s stock valued at $429,000 after acquiring an additional 683 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of NYSE PGR traded down $2.04 during mid-day trading on Friday, hitting $208.03. The company had a trading volume of 2,628,749 shares, compared to its average volume of 2,796,081. The firm’s 50 day simple moving average is $202.45 and its two-hundred day simple moving average is $177.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.31. The stock has a market cap of $121.84 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 0.82 and a beta of 0.35. The Progressive Co. has a 12 month low of $111.41 and a 12 month high of $216.21.

Progressive (NYSE:PGR) last announced its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.74. The firm had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, equities research analysts forecast that The Progressive Co. will post 11.34 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Wednesday, April 3rd. Progressive’s payout ratio is currently 4.09%.

Wall Street Analysts Forecast Growth

PGR has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 target price on shares of Progressive in a research note on Monday, April 1st. Wells Fargo & Company raised their price objective on Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. UBS Group raised their price objective on Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their price objective on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $211.88.

Insider Buying and Selling at Progressive

In other news, insider Patrick K. Callahan sold 29,675 shares of Progressive stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the transaction, the insider now directly owns 15,189 shares in the company, valued at approximately $2,889,859.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the transaction, the director now directly owns 7,176 shares in the company, valued at approximately $1,494,976.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick K. Callahan sold 29,675 shares of Progressive stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the transaction, the insider now owns 15,189 shares in the company, valued at $2,889,859.14. The disclosure for this sale can be found here. Insiders have sold 39,139 shares of company stock valued at $7,458,139 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

About Progressive

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.