The Progressive Corporation $PGR Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. cut its position in The Progressive Corporation (NYSE:PGR) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 541,803 shares of the insurance provider’s stock after selling 2,860 shares during the quarter. APG Asset Management N.V.’s holdings in Progressive were worth $133,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Davis Capital Management acquired a new stake in shares of Progressive during the third quarter valued at about $25,000. Atlantic Union Bankshares Corp bought a new position in Progressive during the 2nd quarter valued at $33,000. Westside Investment Management Inc. grew its holdings in Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 117 shares in the last quarter. Howard Hughes Medical Institute bought a new stake in shares of Progressive in the 2nd quarter worth about $34,000. Finally, TruNorth Capital Management LLC raised its stake in shares of Progressive by 450.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PGR shares. Roth Mkm set a $235.00 price target on Progressive in a research note on Thursday, February 19th. Wells Fargo & Company lowered their price target on Progressive from $220.00 to $214.00 and set an “equal weight” rating for the company in a report on Thursday, February 19th. UBS Group lowered their price objective on shares of Progressive from $226.00 to $218.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their target price on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Finally, Mizuho set a $240.00 target price on Progressive in a report on Wednesday, January 14th. Six investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $244.71.

Insider Transactions at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 2,266 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $203.05, for a total value of $460,111.30. Following the sale, the executive directly owned 26,250 shares in the company, valued at approximately $5,330,062.50. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Broz sold 1,344 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $224.80, for a total transaction of $302,131.20. Following the transaction, the insider owned 26,354 shares of the company’s stock, valued at approximately $5,924,379.20. This trade represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,103 shares of company stock valued at $1,883,924. 0.34% of the stock is currently owned by company insiders.

Progressive Stock Up 0.7%

Progressive stock opened at $213.11 on Friday. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $292.99. The stock has a market cap of $124.97 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 9.34 and a beta of 0.32. The company’s 50-day moving average price is $210.55 and its two-hundred day moving average price is $225.28. The company has a current ratio of 0.38, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s payout ratio is presently 2.08%.

Progressive Company 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.