Liberty One Investment Management LLC Has $312,000 Stake in The Progressive Co. (NYSE:PGR)

Liberty One Investment Management LLC lifted its position in shares of The Progressive Co. (NYSE:PGR) by 11.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,303 shares of the insurance provider’s stock after purchasing an additional 135 shares during the quarter. Liberty One Investment Management LLC’s holdings in Progressive were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 391 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after buying an additional 3,720 shares during the last quarter. Diversified Trust Co raised its holdings in Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after acquiring an additional 11,770 shares in the last quarter. Sycomore Asset Management boosted its position in Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after purchasing an additional 2,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after purchasing an additional 330,667 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the transaction, the chief financial officer now owns 282,958 shares in the company, valued at approximately $67,530,756.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,938 shares of company stock valued at $7,473,490 over the last quarter. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PGR. Bank of America boosted their target price on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. BMO Capital Markets cut their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Progressive in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.24.

Progressive Trading Down 0.7 %

NYSE PGR opened at $243.79 on Monday. The company has a market cap of $142.82 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The Progressive Co. has a twelve month low of $166.92 and a twelve month high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $250.18 and its 200 day moving average is $242.49.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

About Progressive

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.