Canada Post Corp Registered Pension Plan Purchases 3,110 Shares of The Progressive Corporation $PGR

Canada Post Corp Registered Pension Plan increased its position in shares of The Progressive Corporation (NYSE:PGR) by 26.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,835 shares of the insurance provider’s stock after acquiring an additional 3,110 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Progressive were worth $3,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stephens Inc. AR increased its holdings in Progressive by 44.4% during the 4th quarter. Stephens Inc. AR now owns 26,543 shares of the insurance provider’s stock worth $6,044,000 after acquiring an additional 8,156 shares during the period. AlphaCore Capital LLC increased its holdings in Progressive by 16.5% during the 4th quarter. AlphaCore Capital LLC now owns 3,256 shares of the insurance provider’s stock worth $742,000 after acquiring an additional 460 shares during the period. DNB Asset Management AS increased its holdings in Progressive by 2.7% during the 4th quarter. DNB Asset Management AS now owns 118,726 shares of the insurance provider’s stock worth $27,036,000 after acquiring an additional 3,127 shares during the period. Applied Finance Capital Management LLC increased its holdings in shares of Progressive by 54.5% in the 4th quarter. Applied Finance Capital Management LLC now owns 9,461 shares of the insurance provider’s stock worth $2,154,000 after buying an additional 3,338 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Progressive by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider’s stock worth $4,267,000 after buying an additional 52 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In other Progressive news, insider Karen Bailo sold 3,517 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares of the company’s stock, valued at $6,857,776. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CIO Jonathan S. Bauer sold 2,266 shares of the stock in a transaction 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 sale, the executive directly owned 26,250 shares of the company’s stock, valued at $5,330,062.50. The trade was a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 6,933 shares of company stock worth $1,441,564. 0.32% of the stock is currently owned by corporate insiders.

Progressive Trading Up 0.0%

Shares of PGR opened at $199.83 on Monday. The stock has a market capitalization of $116.77 billion, a P/E ratio of 10.16, a PEG ratio of 5.77 and a beta of 0.31. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $201.02 and a two-hundred day simple moving average of $210.46. The Progressive Corporation has a twelve month low of $191.75 and a twelve month high of $289.96.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.13. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.37 EPS. On average, research analysts anticipate that The Progressive Corporation will post 16.4 EPS for the current year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio is presently 2.03%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Roth Mkm set a $235.00 price target on shares of Progressive in a report on Thursday, February 19th. Morgan Stanley decreased their price target on shares of Progressive from $205.00 to $190.00 and set an “underweight” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings lowered shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. BMO Capital Markets increased their price target on shares of Progressive from $208.00 to $221.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, Citigroup decreased their price target on shares of Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $238.39.

Progressive 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.