The Progressive Corporation $PGR Stock Holdings Increased by Capital International Inc. CA

Capital International Inc. CA lifted its holdings in The Progressive Corporation (NYSE:PGR) by 63.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,523 shares of the insurance provider’s stock after purchasing an additional 70,273 shares during the quarter. Capital International Inc. CA’s holdings in Progressive were worth $44,827,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PGR. Bell Investment Advisors Inc lifted its holdings in Progressive by 20.8% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 44 shares during the period. Maia Wealth LLC boosted its holdings in shares of Progressive by 5.4% in the second quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock valued at $229,000 after acquiring an additional 44 shares in the last quarter. Selective Wealth Management Inc. increased its stake in shares of Progressive by 2.1% during the third quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider’s stock valued at $538,000 after acquiring an additional 45 shares during the period. Liberty One Investment Management LLC raised its holdings in Progressive by 3.8% during 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 in the last quarter. Finally, True Wealth Design LLC raised its holdings in Progressive by 20.8% during the third quarter. True Wealth Design LLC now owns 279 shares of the insurance provider’s stock worth $69,000 after purchasing an additional 48 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $259.00 price target on shares of Progressive in a research report on Monday, March 2nd. Zacks Research upgraded shares of Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Barclays raised shares of Progressive from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $257.00 to $265.00 in a research note on Thursday, January 8th. Keefe, Bruyette & Woods increased their price objective on Progressive from $225.00 to $232.00 and gave the stock a “market perform” rating in a research note on Thursday, February 19th. Finally, Evercore set a $230.00 target price on shares of Progressive in a research note on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and a consensus target price of $245.50.

Insiders Place Their Bets

In other news, insider Andrew J. Quigg sold 1,649 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $336,973.15. Following the completion of the sale, the insider directly owned 39,626 shares in the company, valued at approximately $8,097,573.10. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Jonathan S. Bauer sold 3,105 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive owned 26,249 shares of the company’s stock, valued at approximately $5,363,983.15. The trade was a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,761 shares of company stock worth $2,659,420 in the last three months. 0.33% of the stock is owned by insiders.

Progressive Price Performance

NYSE PGR opened at $206.70 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $121.10 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 9.19 and a beta of 0.33. The company has a 50 day moving average price of $208.55 and a two-hundred day moving average price of $223.48. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is currently 2.08%.

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.