The Progressive Co. (NYSE:PGR) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its holdings in The Progressive Co. (NYSE:PGR) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,827 shares of the insurance provider’s stock after acquiring an additional 693 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Progressive were worth $2,202,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PGR. Arkadios Wealth Advisors acquired a new stake in Progressive in the third quarter valued at $228,000. Proficio Capital Partners LLC raised its stake in shares of Progressive by 5.7% during the 3rd quarter. Proficio Capital Partners LLC now owns 1,933 shares of the insurance provider’s stock worth $269,000 after buying an additional 104 shares during the last quarter. RDA Financial Network raised its stake in shares of Progressive by 27.6% during the 3rd quarter. RDA Financial Network now owns 2,250 shares of the insurance provider’s stock worth $313,000 after buying an additional 486 shares during the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Progressive by 18.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 42,506 shares of the insurance provider’s stock worth $5,921,000 after buying an additional 6,523 shares during the last quarter. Finally, Financial Strategies Group Inc. raised its stake in shares of Progressive by 11.9% during the 3rd quarter. Financial Strategies Group Inc. now owns 21,841 shares of the insurance provider’s stock worth $3,042,000 after buying an additional 2,316 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PGR. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price on shares of Progressive in a research note on Monday, April 1st. Roth Mkm boosted their target price on shares of Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Bank of America cut their target price on shares of Progressive from $279.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. UBS Group boosted their target price on shares of Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley boosted their target price on shares of Progressive from $228.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Progressive has a consensus rating of “Hold” and an average price target of $211.88.

Progressive Stock Down 0.6 %

Shares of PGR traded down $1.25 during trading on Thursday, reaching $210.95. The company’s stock had a trading volume of 747,042 shares, compared to its average volume of 2,596,007. The company has a fifty day moving average of $201.66 and a two-hundred day moving average of $176.83. The Progressive Co. has a twelve month low of $111.41 and a twelve month high of $216.21. The company has a market cap of $123.55 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 0.85 and a beta of 0.35. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 0.32.

Progressive (NYSE:PGR) last announced its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The company had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same period in the prior year, the company posted $0.65 EPS. Progressive’s quarterly revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts predict that The Progressive Co. will post 11.22 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. Progressive’s payout ratio is currently 4.09%.

Insider Buying and Selling

In related news, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the completion of the transaction, the director now directly owns 7,176 shares in the company, valued at approximately $1,494,976.08. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Devin C. Johnson sold 1,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now directly owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the transaction, the insider now directly owns 15,189 shares in the company, valued at $2,889,859.14. The disclosure for this sale can be found here. Insiders sold a total of 39,139 shares of company stock worth $7,458,139 in the last three months. 0.34% of the stock is owned by insiders.

Progressive 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.