Brinker Capital Inc. lowered its position in shares of Progressive Corp (NYSE:PGR) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,746 shares of the insurance provider’s stock after selling 843 shares during the period. Brinker Capital Inc.’s holdings in Progressive were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avalon Advisors LLC boosted its stake in shares of Progressive by 21.6% during the 4th quarter. Avalon Advisors LLC now owns 221,708 shares of the insurance provider’s stock worth $13,376,000 after acquiring an additional 39,333 shares during the last quarter. MUFG Securities EMEA plc boosted its stake in shares of Progressive by 2,830.2% during the 4th quarter. MUFG Securities EMEA plc now owns 463,200 shares of the insurance provider’s stock worth $27,945,000 after acquiring an additional 447,392 shares during the last quarter. Achmea Investment Management B.V. boosted its stake in shares of Progressive by 2.8% during the 4th quarter. Achmea Investment Management B.V. now owns 118,828 shares of the insurance provider’s stock worth $7,170,000 after acquiring an additional 3,291 shares during the last quarter. SevenBridge Financial Group LLC purchased a new position in shares of Progressive during the 4th quarter valued at $167,000. Finally, LMR Partners LLP purchased a new position in shares of Progressive during the 4th quarter valued at $3,464,000. 79.35% of the stock is owned by institutional investors.

Shares of NYSE PGR opened at $72.01 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $42.27 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.97 and a beta of 0.78. Progressive Corp has a 52-week low of $56.71 and a 52-week high of $73.78.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 23rd. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.57). The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.86 billion. Progressive had a net margin of 8.16% and a return on equity of 24.83%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Progressive Corp will post 5.07 earnings per share for the current year.

The business also recently declared an annual dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, April 5th will be issued a $0.10 dividend. The ex-dividend date is Thursday, April 4th. This represents a yield of 0.14%. Progressive’s dividend payout ratio is currently 56.79%.

A number of research analysts recently weighed in on the stock. Wells Fargo & Co restated a “hold” rating and set a $73.00 target price on shares of Progressive in a research note on Thursday, February 28th. Credit Suisse Group lifted their target price on shares of Progressive from $73.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Citigroup lifted their target price on shares of Progressive from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. B. Riley upgraded shares of Progressive from a “neutral” rating to a “buy” rating and lifted their target price for the company from $71.00 to $81.00 in a research note on Tuesday, December 11th. Finally, Zacks Investment Research cut shares of Progressive from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $72.50.

In other Progressive news, insider John A. Barbagallo sold 45,000 shares of Progressive stock in a transaction on Friday, January 25th. The shares were sold at an average price of $65.44, for a total value of $2,944,800.00. Following the sale, the insider now directly owns 132,370 shares in the company, valued at approximately $8,662,292.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 12,000 shares of Progressive stock in a transaction on Friday, March 15th. The shares were sold at an average price of $72.65, for a total transaction of $871,800.00. Following the completion of the sale, the chief financial officer now owns 371,815 shares in the company, valued at $27,012,359.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,048 shares of company stock worth $8,073,519. 0.70% of the stock is currently owned by insiders.

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Progressive Company Profile

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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