TD Asset Management Inc Has $311.86 Million Stock Position in The Progressive Corporation $PGR

TD Asset Management Inc lessened its holdings in The Progressive Corporation (NYSE:PGR) by 24.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,262,854 shares of the insurance provider’s stock after selling 402,188 shares during the period. TD Asset Management Inc’s holdings in Progressive were worth $311,862,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PGR. Davis Capital Management purchased a new stake in shares of Progressive in the third quarter worth approximately $25,000. Atlantic Union Bankshares Corp bought a new stake in Progressive during the second quarter worth $33,000. Westside Investment Management Inc. raised its position in Progressive by 900.0% in the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after buying an additional 117 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in Progressive in the 2nd quarter valued at $34,000. Finally, TruNorth Capital Management LLC lifted its stake in Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PGR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Progressive in a report on Monday, December 29th. Evercore set a $230.00 price objective on shares of Progressive in a research note on Thursday, February 19th. Roth Mkm set a $235.00 price target on Progressive in a research report on Thursday, February 19th. Keefe, Bruyette & Woods boosted their price objective on Progressive from $225.00 to $232.00 and gave the stock a “market perform” rating in a research report on Thursday, February 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $225.00 target price on shares of Progressive in a research report on Monday. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $244.71.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 5,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the completion of the transaction, the chief financial officer owned 223,024 shares in the company, valued at $50,956,523.52. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CIO Jonathan S. Bauer sold 2,266 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total transaction of $460,111.30. Following the completion of the sale, the executive directly owned 26,250 shares in the company, valued at approximately $5,330,062.50. This trade represents a 7.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,364 shares of company stock valued at $2,876,122 in the last three months. 0.33% of the stock is owned by company insiders.

Progressive Stock Performance

Shares of PGR opened at $205.85 on Wednesday. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $292.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29. The stock’s fifty day moving average price is $211.50 and its two-hundred day moving average price is $225.87. The firm has a market cap of $120.71 billion, a PE ratio of 10.70, a PEG ratio of 8.88 and a beta of 0.32.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s payout ratio is currently 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.