Sentry Investment Management LLC decreased its holdings in Progressive Corp (NYSE:PGR) by 8.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 39,490 shares of the insurance provider’s stock after selling 3,418 shares during the quarter. Sentry Investment Management LLC’s holdings in Progressive were worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PGR. Exane Derivatives purchased a new position in shares of Progressive in the fourth quarter worth approximately $104,000. Balentine LLC boosted its holdings in shares of Progressive by 3,273.0% in the third quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after buying an additional 2,422 shares during the last quarter. First Personal Financial Services boosted its holdings in shares of Progressive by 101.8% in the fourth quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock worth $124,000 after buying an additional 1,111 shares during the last quarter. W. E. Donoghue & Co. LLC purchased a new position in shares of Progressive in the second quarter worth approximately $200,000. Finally, Tiedemann Wealth Management LLC purchased a new position in shares of Progressive in the third quarter worth approximately $200,000. 78.27% of the stock is currently owned by institutional investors.

Progressive Corp (NYSE PGR) opened at $52.38 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.37. The company has a market cap of $30,376.37, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. Progressive Corp has a one year low of $37.29 and a one year high of $58.25.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. Progressive had a net margin of 5.93% and a return on equity of 15.96%. Progressive’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. equities analysts anticipate that Progressive Corp will post 3.41 EPS for the current fiscal year.

The company also recently disclosed an annual dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were paid a dividend of $1.125 per share. This represents a yield of 0.0203325501536237%. The ex-dividend date was Thursday, February 1st. Progressive’s payout ratio is 41.18%.

A number of equities research analysts have commented on PGR shares. Barclays raised their target price on shares of Progressive from $41.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 16th. FBR & Co restated a “hold” rating on shares of Progressive in a research note on Tuesday, October 17th. Wells Fargo & Co set a $47.00 target price on shares of Progressive and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Morgan Stanley raised their target price on shares of Progressive from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Citigroup lifted their price objective on shares of Progressive from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Progressive currently has an average rating of “Hold” and an average price target of $50.53.

In other Progressive news, insider William M. Cody sold 25,000 shares of Progressive stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the completion of the transaction, the insider now directly owns 137,722 shares of the company’s stock, valued at $7,726,204.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders.

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Progressive Company 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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