Donaldson Capital Management LLC lifted its stake in Progressive Corp (NYSE:PGR) by 29.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,316 shares of the insurance provider’s stock after acquiring an additional 1,220 shares during the quarter. Donaldson Capital Management LLC’s holdings in Progressive were worth $385,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PGR. Nuveen Asset Management LLC increased its position in shares of Progressive by 22,404.6% in the second quarter. Nuveen Asset Management LLC now owns 3,549,648 shares of the insurance provider’s stock valued at $283,723,000 after acquiring an additional 3,533,875 shares during the last quarter. Invesco Ltd. increased its position in shares of Progressive by 80.9% in the second quarter. Invesco Ltd. now owns 5,531,946 shares of the insurance provider’s stock valued at $442,168,000 after acquiring an additional 2,474,735 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Progressive by 45.2% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 7,422,571 shares of the insurance provider’s stock valued at $593,288,000 after acquiring an additional 2,309,945 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Progressive by 1.3% in the second quarter. Vanguard Group Inc. now owns 47,282,236 shares of the insurance provider’s stock valued at $3,779,270,000 after acquiring an additional 608,886 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Progressive by 15.3% in the second quarter. California Public Employees Retirement System now owns 4,468,680 shares of the insurance provider’s stock valued at $357,182,000 after acquiring an additional 593,443 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Michael D. Sieger sold 3,356 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $75.00, for a total transaction of $251,700.00. Following the completion of the sale, the insider now owns 51,019 shares in the company, valued at $3,826,425. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 22,614 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $71.99, for a total value of $1,627,981.86. Following the sale, the chief executive officer now owns 376,308 shares of the company’s stock, valued at approximately $27,090,412.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,895 shares of company stock valued at $3,263,586. Corporate insiders own 0.39% of the company’s stock.

A number of equities analysts have weighed in on PGR shares. ValuEngine downgraded Progressive from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Credit Suisse Group lowered their price target on Progressive from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Co reissued a “hold” rating and set a $76.00 price target on shares of Progressive in a research report on Thursday, November 7th. Deutsche Bank raised Progressive from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Thursday, January 2nd. Finally, Raymond James downgraded Progressive from a “strong-buy” rating to an “outperform” rating and set a $85.00 price target on the stock. in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $81.00.

Shares of NYSE PGR opened at $74.25 on Wednesday. The business’s 50 day moving average price is $72.72 and its two-hundred day moving average price is $75.40. The company has a market cap of $43.09 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.86 and a beta of 0.64. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. Progressive Corp has a twelve month low of $61.45 and a twelve month high of $84.96.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, November 13th. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. Progressive had a return on equity of 26.09% and a net margin of 8.69%. As a group, research analysts anticipate that Progressive Corp will post 5.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Tuesday, January 7th. Progressive’s dividend payout ratio is presently 9.05%.

About Progressive

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.

Further Reading: Dividend

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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