The Progressive Corporation $PGR Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its position in The Progressive Corporation (NYSE:PGR) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 685,100 shares of the insurance provider’s stock after selling 9,916 shares during the period. Progressive comprises about 0.7% of Skandinaviska Enskilda Banken AB publ’s portfolio, making the stock its 23rd largest holding. Skandinaviska Enskilda Banken AB publ’s holdings in Progressive were worth $169,185,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after purchasing an additional 457 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Progressive during the fourth quarter worth $269,000. Bison Wealth LLC grew its holdings in shares of Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after buying an additional 80 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Progressive by 59.4% in the second quarter. Harbour Investments Inc. now owns 1,181 shares of the insurance provider’s stock valued at $315,000 after buying an additional 440 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Progressive in the second quarter worth about $13,583,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Progressive

In related news, insider Andrew J. Quigg sold 1,649 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the transaction, the insider owned 39,626 shares of the company’s stock, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven Broz sold 1,345 shares of Progressive stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $228.29, for a total transaction of $307,050.05. Following the completion of the sale, the insider owned 27,698 shares of the company’s stock, valued at $6,323,176.42. This trade represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,443 shares of company stock worth $2,723,061. 0.33% of the stock is owned by corporate insiders.

Progressive Price Performance

PGR stock opened at $204.43 on Tuesday. The Progressive Corporation has a 52-week low of $197.92 and a 52-week high of $292.99. The company has a quick ratio of 0.29, a current ratio of 0.38 and a debt-to-equity ratio of 0.23. The stock has a market cap of $119.88 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 7.16 and a beta of 0.33. The business has a fifty day moving average of $214.61 and a two-hundred day moving average of $227.54.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s payout ratio is 2.08%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PGR shares. Morgan Stanley dropped their price objective on shares of Progressive from $214.00 to $205.00 and set an “underweight” rating for the company in a research note on Wednesday, January 28th. Wells Fargo & Company dropped their price target on Progressive from $240.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, January 29th. The Goldman Sachs Group set a $227.00 price target on Progressive in a report on Wednesday, January 7th. Evercore lowered their price objective on Progressive from $250.00 to $237.00 and set an “in-line” rating on the stock in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods dropped their target price on Progressive from $252.00 to $225.00 and set a “market perform” rating for the company in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $250.35.

About Progressive

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.