Aquatic Capital Management LLC Buys 6,701 Shares of The Progressive Co. (NYSE:PGR)

Aquatic Capital Management LLC raised its stake in shares of The Progressive Co. (NYSE:PGR) by 19.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,282 shares of the insurance provider’s stock after buying an additional 6,701 shares during the quarter. Aquatic Capital Management LLC’s holdings in Progressive were worth $9,892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oxford Asset Management LLP increased its holdings in Progressive by 215.1% during the 4th quarter. Oxford Asset Management LLP now owns 7,415 shares of the insurance provider’s stock worth $1,777,000 after acquiring an additional 5,062 shares during the period. Johnson Financial Group Inc. raised its position in shares of Progressive by 3.1% in the fourth quarter. Johnson Financial Group Inc. now owns 29,369 shares of the insurance provider’s stock worth $7,238,000 after buying an additional 890 shares in the last quarter. Boothbay Fund Management LLC boosted its stake in Progressive by 66.2% during the fourth quarter. Boothbay Fund Management LLC now owns 3,024 shares of the insurance provider’s stock valued at $725,000 after buying an additional 1,205 shares during the period. Virtus ETF Advisers LLC grew its position in Progressive by 14.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,713 shares of the insurance provider’s stock worth $1,129,000 after buying an additional 608 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Progressive by 11.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 12,147 shares of the insurance provider’s stock worth $2,911,000 after acquiring an additional 1,239 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, March 28th. The shares were sold at an average price of $275.94, for a total value of $2,759,400.00. Following the transaction, the chief financial officer now directly owns 258,024 shares of the company’s stock, valued at approximately $71,199,142.56. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick K. Callahan sold 4,669 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 15,191 shares of the company’s stock, valued at approximately $4,248,922.70. This represents a 23.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,749 shares of company stock worth $11,786,613 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of research analyst reports. Bank of America lifted their price objective on shares of Progressive from $289.00 to $297.00 and gave the stock a “neutral” rating in a report on Thursday, April 17th. JPMorgan Chase & Co. increased their price objective on Progressive from $267.00 to $287.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $288.00 target price on shares of Progressive in a research report on Thursday, April 17th. Barclays increased their price target on shares of Progressive from $285.00 to $297.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. Finally, UBS Group lifted their price target on shares of Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, March 14th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $285.76.

Progressive Stock Down 0.0 %

Shares of NYSE PGR opened at $265.11 on Friday. The company has a market cap of $155.42 billion, a P/E ratio of 18.41, a PEG ratio of 1.70 and a beta of 0.38. The firm has a 50-day simple moving average of $274.12 and a two-hundred day simple moving average of $258.26. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.28 by $0.37. The company had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Research analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is 2.70%.

Progressive Company 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.