New Republic Capital LLC Buys 86 Shares of The Progressive Co. (NYSE:PGR)

New Republic Capital LLC increased its position in shares of The Progressive Co. (NYSE:PGR) by 9.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,034 shares of the insurance provider’s stock after acquiring an additional 86 shares during the quarter. New Republic Capital LLC’s holdings in Progressive were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after purchasing an additional 1,682,213 shares in the last quarter. Jennison Associates LLC lifted its stake in Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after purchasing an additional 842,109 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Progressive by 75.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after purchasing an additional 641,943 shares during the last quarter. International Assets Investment Management LLC boosted its position in 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 valued at $151,325,000 after buying an additional 594,330 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Progressive by 102.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,024,992 shares of the insurance provider’s stock worth $260,102,000 after buying an additional 518,262 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Trading Down 0.4 %

NYSE PGR opened at $249.61 on Tuesday. The stock has a market capitalization of $146.22 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.64 and a beta of 0.42. The business has a 50 day simple moving average of $245.24 and a 200 day simple moving average of $246.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a one year low of $180.72 and a one year high of $270.62.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Research analysts expect that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Analyst Ratings Changes

PGR has been the topic of several recent research reports. Evercore ISI raised their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price objective 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, Morgan Stanley boosted their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Insider Activity

In related news, insider Andrew J. Quigg sold 681 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock worth $13,983,575 in the last three months. Company 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.