Fenimore Asset Management Inc lowered its stake in The Progressive Co. (NYSE:PGR – Free Report) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 570,243 shares of the insurance provider’s stock after selling 3,806 shares during the period. Progressive makes up approximately 2.9% of Fenimore Asset Management Inc’s portfolio, making the stock its 11th biggest holding. Fenimore Asset Management Inc’s holdings in Progressive were worth $136,636,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Davis Capital Management bought a new stake in Progressive in the third quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Progressive during the 2nd quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progressive during the 3rd quarter valued at $49,000. Finally, Friedenthal Financial bought a new stake in Progressive in the 3rd quarter worth $49,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.
Progressive Price Performance
PGR opened at $238.58 on Friday. The company’s 50-day simple moving average is $248.27 and its two-hundred day simple moving average is $243.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $139.76 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.62 and a beta of 0.41. The Progressive Co. has a 52-week low of $175.50 and a 52-week high of $270.62.
Progressive Announces Dividend
Insider Buying and Selling at Progressive
In other news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,506 shares of company stock worth $10,531,159. Insiders own 0.34% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on PGR shares. Wells Fargo & Company increased their target price on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lifted their price objective on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods decreased their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. BMO Capital Markets cut their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Evercore ISI upped their price objective on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Six investment 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 stock has an average rating of “Moderate Buy” and an average target price of $274.65.
Check Out Our Latest Research Report on Progressive
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.
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