Todd Asset Management LLC Sells 8,247 Shares of The Progressive Co. (NYSE:PGR)

Todd Asset Management LLC decreased its holdings in The Progressive Co. (NYSE:PGR) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,743 shares of the insurance provider’s stock after selling 8,247 shares during the period. Progressive comprises approximately 1.4% of Todd Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Todd Asset Management LLC’s holdings in Progressive were worth $59,122,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PGR. Private Advisor Group LLC boosted its holdings in shares of Progressive by 10.9% in the 3rd quarter. Private Advisor Group LLC now owns 11,958 shares of the insurance provider’s stock valued at $3,034,000 after purchasing an additional 1,176 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Progressive by 10.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 18,371 shares of the insurance provider’s stock valued at $4,662,000 after acquiring an additional 1,789 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Progressive by 7.0% during the 3rd quarter. Allworth Financial LP now owns 7,313 shares of the insurance provider’s stock valued at $1,856,000 after acquiring an additional 481 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Progressive by 113.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,247 shares of the insurance provider’s stock valued at $824,000 after acquiring an additional 1,728 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of Progressive during the 3rd quarter valued at $244,000. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This trade represents a 1.99 % 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. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR opened at $272.91 on Tuesday. 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 $186.94 and a one year high of $275.52. The company has a 50-day simple moving average of $247.35 and a two-hundred day simple moving average of $249.74. The firm has a market capitalization of $159.87 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42.

Progressive (NYSE:PGR) last issued 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%. On average, analysts anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s payout ratio is currently 2.78%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Evercore ISI upped their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets dropped their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America upped their price target on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.12.

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.