The Progressive Co. (NYSE:PGR) Stock Holdings Lessened by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in The Progressive Co. (NYSE:PGR) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,469 shares of the insurance provider’s stock after selling 12,516 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Progressive were worth $23,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Compass Ion Advisors LLC lifted its position in shares of Progressive by 0.8% in the fourth quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock worth $1,186,000 after purchasing an additional 59 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Progressive by 10.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 670 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 62 shares in the last quarter. Quent Capital LLC lifted its position in shares of Progressive by 19.3% in the fourth quarter. Quent Capital LLC now owns 427 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 69 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Progressive by 1.2% in the third quarter. IFP Advisors Inc now owns 5,860 shares of the insurance provider’s stock worth $816,000 after purchasing an additional 71 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in shares of Progressive by 1.3% in the third quarter. Aaron Wealth Advisors LLC now owns 5,430 shares of the insurance provider’s stock worth $756,000 after purchasing an additional 71 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 5,939 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total value of $1,005,116.36. Following the completion of the transaction, the chief executive officer now directly owns 465,737 shares of the company’s stock, valued at $78,821,329.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Andrew J. Quigg sold 551 shares of Progressive stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total value of $93,251.24. Following the completion of the sale, the insider now directly owns 27,921 shares in the company, valued at $4,725,350.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Susan Patricia Griffith sold 5,939 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total value of $1,005,116.36. Following the sale, the chief executive officer now directly owns 465,737 shares of the company’s stock, valued at $78,821,329.88. The disclosure for this sale can be found here. Insiders have sold a total of 44,629 shares of company stock worth $8,348,176 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.3 %

Shares of PGR stock opened at $210.39 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $123.23 billion, a P/E ratio of 31.97, a P/E/G ratio of 0.95 and a beta of 0.35. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $212.24. The firm has a 50-day moving average price of $195.16 and a 200 day moving average price of $171.37.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.53. The business had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.10 billion. Progressive had a return on equity of 21.25% and a net margin of 6.28%. During the same period in the prior year, the company earned $1.52 EPS. Research analysts forecast that The Progressive Co. will post 9.9 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, April 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.19%. Progressive’s dividend payout ratio (DPR) is 6.08%.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent research reports. Raymond James lowered shares of Progressive from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 12th. The Goldman Sachs Group upped their price target on shares of Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday, March 25th. Roth Mkm increased their target price on Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC lifted their price target on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Progressive from $185.00 to $190.00 and gave the company a “market perform” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $191.44.

About Progressive

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.