Trillium Asset Management LLC Has $20.46 Million Stake in The Progressive Co. (NYSE:PGR)

Trillium Asset Management LLC decreased its stake in The Progressive Co. (NYSE:PGR) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 85,379 shares of the insurance provider’s stock after selling 1,094 shares during the period. Trillium Asset Management LLC’s holdings in Progressive were worth $20,458,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Webster Bank N. A. acquired a new position in Progressive in the fourth quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new position in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 41 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 120 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Progressive in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PGR shares. Barclays increased their price target on Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, March 13th. Roth Mkm increased their price target on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods lowered their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company increased their price target on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and an average target price of $281.76.

Progressive Stock Down 2.9 %

PGR stock opened at $282.64 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $259.99 and a two-hundred day moving average price of $254.57. The company has a market cap of $165.68 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.70 and a beta of 0.35. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Analysts anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Progressive’s payout ratio is 2.78%.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 11,021 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Patrick K. Callahan sold 4,669 shares of Progressive stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $279.70, for a total value of $1,305,919.30. Following the sale, the insider now directly owns 15,191 shares of the company’s stock, valued at approximately $4,248,922.70. The trade was a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,495 shares of company stock valued at $16,668,034 over the last three months. Insiders own 0.34% of the company’s stock.

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.