Generali Asset Management SPA SGR Has $15.24 Million Stock Holdings in The Progressive Corporation $PGR

Generali Asset Management SPA SGR grew its position in The Progressive Corporation (NYSE:PGR) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,925 shares of the insurance provider’s stock after purchasing an additional 7,921 shares during the period. Generali Asset Management SPA SGR’s holdings in Progressive were worth $15,240,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Liberty One Investment Management LLC raised its holdings in Progressive by 3.8% in the third quarter. Liberty One Investment Management LLC now owns 1,291 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 47 shares during the period. Klingman & Associates LLC raised its holdings in shares of Progressive by 1.7% during the fourth quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider’s stock worth $667,000 after acquiring an additional 48 shares during the period. Wealthstream Advisors Inc. raised its holdings in shares of Progressive by 4.6% during the third quarter. Wealthstream Advisors Inc. now owns 1,111 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 49 shares during the period. Revisor Wealth Management LLC raised its holdings in shares of Progressive by 2.7% during the fourth quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 50 shares during the period. Finally, Cullen Investment Group LTD. raised its holdings in shares of Progressive by 0.7% during the fourth quarter. Cullen Investment Group LTD. now owns 7,463 shares of the insurance provider’s stock worth $1,606,000 after acquiring an additional 52 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In other Progressive news, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total value of $745,604.00. Following the sale, the insider directly owned 32,348 shares in the company, valued at approximately $6,857,776. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CIO Jonathan S. Bauer sold 2,266 shares of Progressive 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 completion of the sale, the executive owned 26,250 shares in the company, valued at $5,330,062.50. The trade was a 7.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,933 shares of company stock valued at $1,441,564 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PGR. Roth Mkm set a $235.00 price objective on shares of Progressive in a report on Thursday, February 19th. Zacks Research upgraded shares of Progressive from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings lowered shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Progressive from $215.00 to $218.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Finally, Evercore restated a “negative” rating on shares of Progressive in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $238.39.

Progressive Stock Down 0.4%

Shares of PGR stock opened at $196.00 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.35 and a debt-to-equity ratio of 0.26. The Progressive Corporation has a 1 year low of $192.02 and a 1 year high of $289.96. The firm’s fifty day moving average price is $202.73 and its two-hundred day moving average price is $211.43. The firm has a market capitalization of $114.53 billion, a P/E ratio of 9.96, a PEG ratio of 6.49 and a beta of 0.31.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. During the same period in the previous year, the business earned $4.37 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that The Progressive Corporation will post 16.38 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, April 2nd. Progressive’s payout ratio is presently 2.03%.

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.