Schroder Investment Management Group Has $220.02 Million Stake in The Progressive Co. (NYSE:PGR)

Schroder Investment Management Group grew its stake in The Progressive Co. (NYSE:PGR) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 918,230 shares of the insurance provider’s stock after purchasing an additional 118,802 shares during the period. Schroder Investment Management Group owned about 0.16% of Progressive worth $220,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Progressive by 80.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 315,012 shares of the insurance provider’s stock worth $75,480,000 after buying an additional 140,514 shares during the last quarter. Allianz SE acquired a new stake in shares of Progressive during the 4th quarter valued at $371,000. Cambridge Financial Group Inc. bought a new stake in Progressive during the 4th quarter worth $7,248,000. Intrust Bank NA increased its holdings in Progressive by 3.6% in the 4th quarter. Intrust Bank NA now owns 4,489 shares of the insurance provider’s stock worth $1,076,000 after purchasing an additional 156 shares in the last quarter. Finally, Allstate Corp bought a new position in Progressive in the fourth quarter valued at about $4,205,000. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 1,542 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $282.66, for a total value of $435,861.72. Following the transaction, the chief financial officer now directly owns 268,024 shares in the company, valued at $75,759,663.84. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,255 shares of company stock worth $16,877,471. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PGR. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their price target on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Barclays increased their price objective on Progressive from $264.00 to $285.00 and gave the company an “equal weight” rating in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $281.06.

Progressive Trading Up 1.6 %

Shares of Progressive stock opened at $279.13 on Friday. The stock has a market capitalization of $163.64 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The stock has a 50 day moving average price of $265.32 and a two-hundred day moving average price of $255.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, equities analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s payout ratio is 2.78%.

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.