Corundum Group Inc. Sells 192 Shares of The Progressive Co. (NYSE:PGR)

Corundum Group Inc. trimmed its position in The Progressive Co. (NYSE:PGR) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,340 shares of the insurance provider’s stock after selling 192 shares during the quarter. Corundum Group Inc.’s holdings in Progressive were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Progressive by 55.4% during the second quarter. Brighton Jones LLC now owns 2,938 shares of the insurance provider’s stock worth $610,000 after buying an additional 1,047 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of Progressive by 8.2% during the 2nd quarter. King Luther Capital Management Corp now owns 2,173 shares of the insurance provider’s stock valued at $451,000 after acquiring an additional 164 shares during the last quarter. AE Wealth Management LLC lifted its stake in shares of Progressive by 118.4% in the 2nd quarter. AE Wealth Management LLC now owns 9,022 shares of the insurance provider’s stock valued at $1,874,000 after purchasing an additional 4,891 shares during the period. Pacer Advisors Inc. boosted its position in shares of Progressive by 29.2% in the 2nd quarter. Pacer Advisors Inc. now owns 51,907 shares of the insurance provider’s stock worth $10,782,000 after purchasing an additional 11,720 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Progressive by 6.0% during the second quarter. Sei Investments Co. now owns 467,513 shares of the insurance provider’s stock worth $97,108,000 after purchasing an additional 26,375 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the completion of the sale, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,938 shares of company stock worth $7,473,490. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Progressive in a report on Friday, December 13th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.24.

Progressive Stock Down 0.7 %

Progressive stock opened at $243.79 on Monday. The company has a fifty day simple moving average of $250.18 and a 200 day simple moving average of $242.49. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62. The company has a market cap of $142.82 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.91%.

Progressive 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.