OVERSEA CHINESE BANKING Corp Ltd Has $422,000 Stock Holdings in The Progressive Corporation $PGR

OVERSEA CHINESE BANKING Corp Ltd decreased its position in shares of The Progressive Corporation (NYSE:PGR) by 66.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,853 shares of the insurance provider’s stock after selling 3,667 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Progressive were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. SageGuard Financial Group LLC acquired a new stake in shares of Progressive during the 4th quarter worth approximately $13,134,000. Evergreen Capital Management LLC boosted its position in Progressive by 2.5% in the fourth quarter. Evergreen Capital Management LLC now owns 6,010 shares of the insurance provider’s stock valued at $1,369,000 after buying an additional 147 shares in the last quarter. PFG Advisors boosted its position in Progressive by 26.6% in the fourth quarter. PFG Advisors now owns 1,424 shares of the insurance provider’s stock valued at $324,000 after buying an additional 299 shares in the last quarter. Vision Capital Management Inc. boosted its position in Progressive by 3.4% in the fourth quarter. Vision Capital Management Inc. now owns 25,264 shares of the insurance provider’s stock valued at $5,753,000 after buying an additional 819 shares in the last quarter. Finally, Revisor Wealth Management LLC boosted its position in Progressive by 2.7% in the fourth quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider’s stock valued at $395,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, CAO Carl G. Joyce sold 270 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the transaction, the chief accounting officer owned 558 shares of the company’s stock, valued at approximately $115,227. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maribel Pumarejo sold 739 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The SEC filing for this sale provides additional information. Insiders sold a total of 6,933 shares of company stock worth $1,441,564 over the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PGR shares. Barclays set a $247.00 target price on shares of Progressive in a research report on Wednesday, March 18th. Bank of America raised their target price on shares of Progressive from $295.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Progressive in a research report on Friday, March 27th. Citigroup cut their target price on shares of Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Finally, UBS Group raised their target price on shares of Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, March 23rd. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $238.39.

Progressive Price Performance

PGR stock opened at $205.38 on Friday. The company has a fifty day moving average price of $203.46 and a 200-day moving average price of $213.78. The company has a market capitalization of $120.14 billion, a P/E ratio of 10.44, a PEG ratio of 6.68 and a beta of 0.34. The Progressive Corporation has a 52-week low of $192.02 and a 52-week high of $289.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.35 and a current ratio of 0.33.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.37 earnings per share. As a group, equities analysts expect that The Progressive Corporation will post 16.39 EPS for the current year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.03%.

About Progressive

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.