Lansforsakringar Fondforvaltning AB publ Buys 4,443 Shares of The Progressive Corporation $PGR

Lansforsakringar Fondforvaltning AB publ boosted its stake in The Progressive Corporation (NYSE:PGR) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,019 shares of the insurance provider’s stock after purchasing an additional 4,443 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Progressive were worth $46,431,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its position in Progressive by 30.2% in the third quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock valued at $25,381,000 after buying an additional 23,833 shares during the last quarter. Allstate Corp boosted its holdings in Progressive by 1,614.1% in the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock valued at $5,334,000 after purchasing an additional 20,338 shares during the last quarter. New York Life Investment Management LLC grew its position in Progressive by 1.4% during the 2nd quarter. New York Life Investment Management LLC now owns 87,760 shares of the insurance provider’s stock worth $23,420,000 after purchasing an additional 1,192 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of Progressive by 91.7% in the third quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock worth $2,892,000 after buying an additional 5,600 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in Progressive by 40.6% in the third quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock valued at $4,159,000 after acquiring an additional 4,865 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 1.1%

Shares of PGR opened at $204.07 on Friday. The firm’s fifty day moving average is $212.67 and its two-hundred day moving average is $226.59. The stock has a market cap of $119.67 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 8.92 and a beta of 0.32. 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 Progressive Corporation has a 52-week low of $197.92 and a 52-week high of $292.99.

Progressive Dividend Announcement

The business also recently declared 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 dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.08%.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 1,344 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $224.80, for a total value of $302,131.20. Following the completion of the sale, the insider directly owned 26,354 shares in the company, valued at $5,924,379.20. This represents a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 39,626 shares of the company’s stock, valued at $8,097,573.10. This represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 11,098 shares of company stock worth $2,416,011. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PGR shares. William Blair cut shares of Progressive from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Zacks Research cut shares of Progressive from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Evercore set a $230.00 target price on Progressive in a research report on Thursday. Morgan Stanley reduced their price target on Progressive from $214.00 to $205.00 and set an “underweight” rating for the company in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $245.29.

Progressive Profile

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.