The Progressive Corporation $PGR Stock Holdings Trimmed by American Century Companies Inc.

American Century Companies Inc. lowered its stake in The Progressive Corporation (NYSE:PGR) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,403,834 shares of the insurance provider’s stock after selling 134,428 shares during the quarter. American Century Companies Inc.’s holdings in Progressive were worth $346,677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Illinois Municipal Retirement Fund increased its stake in shares of Progressive by 30.2% during the third quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock valued at $25,381,000 after acquiring an additional 23,833 shares during the period. Allstate Corp lifted its position in Progressive by 1,614.1% in the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock worth $5,334,000 after purchasing an additional 20,338 shares during the period. Gateway Investment Advisers LLC boosted its stake in Progressive by 91.7% during the 3rd quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock valued at $2,892,000 after purchasing an additional 5,600 shares in the last quarter. Mather Group LLC. boosted its stake in Progressive by 40.6% during the 3rd quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock valued at $4,159,000 after purchasing an additional 4,865 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its position in shares of Progressive by 471.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider’s stock valued at $5,556,000 after purchasing an additional 18,558 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, insider Andrew J. Quigg sold 1,649 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $336,973.15. Following the transaction, the insider owned 39,626 shares in the company, valued at $8,097,573.10. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CIO Jonathan S. Bauer sold 3,105 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the transaction, the executive directly owned 26,249 shares in the company, valued at approximately $5,363,983.15. The trade was a 10.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 9,103 shares of company stock valued at $1,883,924. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PGR shares. Wells Fargo & Company cut their price objective on Progressive from $220.00 to $214.00 and set an “equal weight” rating for the company in a report on Thursday, February 19th. Morgan Stanley dropped their price target on shares of Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 28th. Barclays raised shares of Progressive from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $257.00 to $265.00 in a report on Thursday, January 8th. Mizuho set a $240.00 price objective on shares of Progressive in a research note on Wednesday, January 14th. Finally, Bank of America dropped their target price on shares of Progressive from $350.00 to $348.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Six analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $244.71.

Progressive Stock Performance

Shares of PGR opened at $213.11 on Friday. The company has a market capitalization of $124.97 billion, a PE ratio of 11.08, a PEG ratio of 9.25 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.38. The company’s 50 day moving average price is $210.55 and its 200 day moving average price is $225.40. 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. Stockholders of record on Friday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s payout ratio is currently 2.08%.

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.