Capital International Inc. CA Purchases 7,713 Shares of The Progressive Co. (NYSE:PGR)

Capital International Inc. CA increased its position in The Progressive Co. (NYSE:PGR) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,953 shares of the insurance provider’s stock after purchasing an additional 7,713 shares during the quarter. Capital International Inc. CA’s holdings in Progressive were worth $16,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGR. Webster Bank N. A. acquired a new stake in shares of Progressive in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new stake in Progressive in the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. Valley National Advisers Inc. boosted its position in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares during the period. Finally, Atala Financial Inc acquired a new position in shares of Progressive in the fourth quarter valued at $32,000. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of Progressive stock opened at $265.45 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market cap of $155.62 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. The company has a 50 day moving average of $273.91 and a 200-day moving average of $257.86. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.28 by $0.37. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. As a group, equities research analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive’s dividend payout ratio (DPR) is currently 2.70%.

Insider Activity

In other Progressive news, Director Jeffrey D. Kelly sold 10,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $250.00, for a total value of $2,500,000.00. Following the completion of the transaction, the director now directly owns 27,741 shares in the company, valued at approximately $6,935,250. This trade represents a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $2,681,299.09. Following the sale, the chief executive officer now owns 473,736 shares in the company, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,317 shares of company stock worth $14,844,282. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $288.00 target price on shares of Progressive in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Progressive from $267.00 to $287.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Barclays increased their target price on Progressive from $285.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. UBS Group boosted their price target on Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company increased their price objective on Progressive from $320.00 to $324.00 and gave the stock an “overweight” rating in a research report on Thursday. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average price target of $285.76.

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.