Rovin Capital UT ADV Has $399,000 Stock Position in The Progressive Co. (NYSE:PGR)

Rovin Capital UT ADV grew its holdings in shares of The Progressive Co. (NYSE:PGR) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,667 shares of the insurance provider’s stock after acquiring an additional 107 shares during the period. Rovin Capital UT ADV’s holdings in Progressive were worth $399,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after buying an additional 1,682,213 shares during the period. Jennison Associates LLC increased its position in shares of Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after buying an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Progressive by 75.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after buying an additional 641,943 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after buying an additional 594,330 shares during the period. Finally, SG Americas Securities LLC boosted its position in Progressive by 206.8% during the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after acquiring an additional 590,235 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

PGR has been the subject of several research analyst reports. Barclays lowered their price objective on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group lifted their price target on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America increased their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company boosted their target price on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $275.24.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the sale, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,919 shares of company stock valued at $8,222,168. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE PGR opened at $242.17 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $251.06 and a two-hundred day simple moving average of $242.00. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62. The firm has a market cap of $141.87 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Analysts anticipate that The Progressive Co. will post 13.52 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s payout ratio is currently 2.91%.

Progressive Profile

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.