The Progressive Corporation $PGR Shares Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ raised its stake in The Progressive Corporation (NYSE:PGR) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 188,019 shares of the insurance provider’s stock after purchasing an additional 4,443 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Progressive were worth $46,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Davis Capital Management purchased a new stake in shares of Progressive in the third quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new stake in Progressive during the 2nd quarter worth approximately $33,000. Westside Investment Management Inc. grew its stake in shares of 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 purchasing an additional 117 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Progressive in the 2nd quarter valued at approximately $34,000. Finally, TruNorth Capital Management LLC raised its stake in shares of Progressive by 450.0% during the third quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 135 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Performance

NYSE:PGR opened at $204.07 on Friday. The Progressive Corporation has a 1-year low of $197.92 and a 1-year high of $292.99. The firm has a market cap of $119.67 billion, a PE ratio of 10.61, a P/E/G ratio of 8.92 and a beta of 0.32. The firm has a 50 day simple moving average of $212.67 and a 200-day simple moving average of $226.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were issued 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 was Friday, January 2nd. Progressive’s dividend payout ratio is presently 2.08%.

Insider Activity at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 3,105 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive owned 26,249 shares of the company’s stock, valued at $5,363,983.15. This trade represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven Broz sold 1,344 shares of Progressive stock in a transaction on Friday, December 19th. The shares were sold at an average price of $224.80, for a total transaction of $302,131.20. Following the completion of the transaction, the insider owned 26,354 shares in the company, valued at approximately $5,924,379.20. This trade represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,098 shares of company stock valued at $2,416,011 in the last ninety days. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Zacks Research cut shares of Progressive from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. HSBC cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. The Goldman Sachs Group set a $227.00 price target on Progressive in a report on Wednesday, January 7th. Keefe, Bruyette & Woods upped their price objective on Progressive from $225.00 to $232.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, William Blair cut shares of Progressive from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $245.29.

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.