Mirae Asset Global Investments Co. Ltd. Has $17.96 Million Holdings in The Progressive Co. (NYSE:PGR)

Mirae Asset Global Investments Co. Ltd. grew its stake in The Progressive Co. (NYSE:PGR) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,534 shares of the insurance provider’s stock after buying an additional 101 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Progressive were worth $17,962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Progressive by 4,545.0% in the first quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock worth $145,858,000 after purchasing an additional 690,060 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Progressive by 548.2% in the first quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after purchasing an additional 686,433 shares in the last quarter. Capital International Investors lifted its position in shares of Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after purchasing an additional 670,006 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after purchasing an additional 594,330 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Progressive in the first quarter worth $116,852,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. BMO Capital Markets dropped their price target on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America upped their price target on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price target on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Price Performance

Shares of PGR opened at $243.78 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50-day moving average is $250.50 and its 200-day moving average is $225.48. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46. The firm has a market capitalization of $142.77 billion, a PE ratio of 17.72, a PEG ratio of 0.68 and a beta of 0.35.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Insider Activity at Progressive

In related news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Progressive news, insider Steven Broz sold 2,981 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the sale, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Jo Murphy sold 9,512 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the sale, the insider now owns 45,787 shares in the company, valued at $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,843 shares of company stock worth $18,674,912. Corporate insiders own 0.34% of the company’s stock.

Progressive Company Profile

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.