OMERS ADMINISTRATION Corp Boosts Holdings in The Progressive Corporation $PGR

OMERS ADMINISTRATION Corp increased its stake in shares of The Progressive Corporation (NYSE:PGR) by 25.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,574 shares of the insurance provider’s stock after acquiring an additional 6,196 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Progressive were worth $6,061,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bard Associates Inc. purchased a new position in shares of Progressive during the fourth quarter worth about $27,000. Bogart Wealth LLC boosted its position in shares of Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the period. IFC & Insurance Marketing Inc. acquired a new position in Progressive during the fourth quarter worth approximately $29,000. HHM Wealth Advisors LLC lifted its stake in Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after buying an additional 126 shares during the last quarter. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of Progressive in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

Progressive stock opened at $213.85 on Monday. The company has a market cap of $124.96 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 2.88 and a beta of 0.26. The Progressive Corporation has a one year low of $189.20 and a one year high of $254.93. The business has a fifty day moving average of $209.88 and a two-hundred day moving average of $205.87. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.27 and a current ratio of 0.32.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive’s payout ratio is 2.01%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PGR shares. Mizuho increased their price target on shares of Progressive from $217.00 to $243.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Progressive in a report on Tuesday, July 14th. Royal Bank Of Canada set a $208.00 target price on shares of Progressive in a research note on Friday, May 22nd. William Blair reissued a “market perform” rating on shares of Progressive in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods reduced their price objective on Progressive from $231.00 to $226.00 and set a “market perform” rating for the company in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $236.11.

Insider Buying and Selling

In other Progressive news, Director Jeffrey D. Kelly sold 7,000 shares of Progressive stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the completion of the transaction, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. The trade was a 23.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the transaction, the insider owned 27,511 shares of the company’s stock, valued at $5,633,152.36. This represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,230 shares of company stock worth $3,165,817 in the last three months. Corporate insiders own 0.32% 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.