Forsta AP Fonden Has $44.15 Million Holdings in The Progressive Co. (NYSE:PGR)

Forsta AP Fonden lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 174,000 shares of the insurance provider’s stock after buying an additional 11,200 shares during the quarter. Forsta AP Fonden’s holdings in Progressive were worth $44,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Progressive by 96.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 65,382 shares of the insurance provider’s stock valued at $13,522,000 after purchasing an additional 32,115 shares during the period. Register Financial Advisors LLC bought a new stake in shares of Progressive during the first quarter valued at approximately $35,000. Financial Management Professionals Inc. raised its position in shares of Progressive by 69.9% during the first quarter. Financial Management Professionals Inc. now owns 231 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 95 shares during the period. New Mexico Educational Retirement Board lifted its holdings in shares of Progressive by 11.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 33,975 shares of the insurance provider’s stock worth $7,027,000 after purchasing an additional 3,500 shares in the last quarter. Finally, D.B. Root & Company LLC acquired a new stake in Progressive in the 1st quarter valued at $245,000. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

PGR traded down $3.09 during trading on Friday, reaching $243.78. 1,594,653 shares of the company were exchanged, compared to its average volume of 2,476,907. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. The company’s 50-day moving average is $250.34 and its two-hundred day moving average is $225.10. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The company has a market cap of $142.77 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.68 and a beta of 0.35.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio is currently 2.91%.

Analyst Ratings Changes

PGR has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler upped their target price on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a report on Monday, August 12th. Barclays raised their target price on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Citigroup reduced their price target on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $263.19.

Insider Buying and Selling

In other news, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the completion of the transaction, the insider now owns 45,787 shares in the company, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

About Progressive

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.