James Hambro & Partners LLP Has $118.94 Million Stake in The Progressive Corporation $PGR

James Hambro & Partners LLP grew its position in shares of The Progressive Corporation (NYSE:PGR) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 522,219 shares of the insurance provider’s stock after purchasing an additional 15,922 shares during the period. Progressive makes up approximately 4.2% of James Hambro & Partners LLP’s portfolio, making the stock its 11th biggest holding. James Hambro & Partners LLP’s holdings in Progressive were worth $118,943,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Davis Capital Management bought a new stake in Progressive during the third quarter valued at $25,000. Dagco Inc. bought a new stake in Progressive in the fourth quarter worth approximately $28,000. Ameriflex Group Inc. increased its holdings in Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in Progressive in the second quarter valued at approximately $34,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PGR shares. HSBC downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Roth Mkm set a $235.00 price target on Progressive in a research report on Thursday, February 19th. UBS Group boosted their target price on shares of Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Zacks Research upgraded shares of Progressive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a report on Friday. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Progressive currently has a consensus rating of “Hold” and a consensus target price of $239.22.

Progressive Price Performance

Shares of NYSE:PGR opened at $200.98 on Tuesday. The company’s fifty day moving average price is $205.69 and its 200-day moving average price is $218.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $117.57 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 5.74 and a beta of 0.33. The Progressive Corporation has a one year low of $197.92 and a one year high of $289.96.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.08%.

Insider Transactions at Progressive

In other news, CIO Jonathan S. Bauer sold 2,266 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total value of $460,111.30. Following the completion of the sale, the executive owned 26,250 shares of the company’s stock, valued at approximately $5,330,062.50. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares in the company, valued at approximately $6,857,776. The trade was a 9.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 11,687 shares of company stock worth $2,413,044. Corporate insiders own 0.33% of the company’s stock.

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.