Quantitative Systematic Strategies LLC lessened its position in Progressive Corp (NYSE:PGR) by 39.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,896 shares of the insurance provider’s stock after selling 9,661 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Progressive were worth $839,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Flinton Capital Management LLC lifted its position in Progressive by 1.5% in the 2nd quarter. Flinton Capital Management LLC now owns 23,088 shares of the insurance provider’s stock worth $1,018,000 after buying an additional 336 shares in the last quarter. Advisory Services Network LLC lifted its position in Progressive by 10.0% in the 2nd quarter. Advisory Services Network LLC now owns 6,579 shares of the insurance provider’s stock worth $290,000 after buying an additional 599 shares in the last quarter. Private Trust Co. NA lifted its position in Progressive by 15.9% in the 4th quarter. Private Trust Co. NA now owns 7,367 shares of the insurance provider’s stock worth $414,000 after buying an additional 1,010 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in Progressive by 1.2% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 87,206 shares of the insurance provider’s stock worth $4,223,000 after buying an additional 1,043 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Progressive by 2.0% in the 3rd quarter. CIBC Asset Management Inc now owns 55,014 shares of the insurance provider’s stock worth $2,664,000 after buying an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.

In related news, insider William M. Cody sold 25,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $56.10, for a total value of $1,402,500.00. Following the transaction, the insider now directly owns 137,722 shares in the company, valued at approximately $7,726,204.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Progressive Corp (NYSE PGR) opened at $53.24 on Friday. The firm has a market cap of $30,969.71, a price-to-earnings ratio of 21.64, a PEG ratio of 2.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.37. Progressive Corp has a twelve month low of $36.78 and a twelve month high of $58.25.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. Progressive had a net margin of 5.93% and a return on equity of 15.96%. Progressive’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. sell-side analysts forecast that Progressive Corp will post 3.41 earnings per share for the current fiscal year.

The company also recently announced an annual dividend, which will be paid on Friday, February 9th. Investors of record on Friday, February 2nd will be paid a $1.125 dividend. The ex-dividend date is Thursday, February 1st. This represents a yield of 0.0203325501536237%. Progressive’s payout ratio is presently 41.18%.

A number of research firms have issued reports on PGR. UBS Group increased their target price on shares of Progressive from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. MKM Partners increased their target price on shares of Progressive from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. FBR & Co reiterated a “hold” rating on shares of Progressive in a research report on Tuesday, October 17th. Morgan Stanley increased their target price on shares of Progressive from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, B. Riley reiterated a “neutral” rating on shares of Progressive in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.53.

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Progressive Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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