Progressive Corp (NYSE:PGR) Holdings Raised by Zurcher Kantonalbank Zurich Cantonalbank

Share on StockTwits

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Progressive Corp (NYSE:PGR) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 134,640 shares of the insurance provider’s stock after acquiring an additional 2,741 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Progressive were worth $9,747,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. First Financial Corp IN acquired a new position in Progressive during the third quarter valued at $25,000. Simon Quick Advisors LLC raised its position in Progressive by 562.0% during the fourth quarter. Simon Quick Advisors LLC now owns 523 shares of the insurance provider’s stock valued at $38,000 after buying an additional 444 shares during the period. Carroll Financial Associates Inc. raised its position in Progressive by 26.6% during the fourth quarter. Carroll Financial Associates Inc. now owns 647 shares of the insurance provider’s stock valued at $46,000 after buying an additional 136 shares during the period. Golden State Wealth Management LLC acquired a new position in Progressive during the third quarter valued at $53,000. Finally, HM Payson & Co. acquired a new position in Progressive during the second quarter valued at $64,000. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PGR stock opened at $76.33 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.36. Progressive Corp has a fifty-two week low of $64.14 and a fifty-two week high of $84.96. The stock’s 50-day moving average is $73.36 and its two-hundred day moving average is $75.16. The firm has a market cap of $44.53 billion, a P/E ratio of 14.27, a PEG ratio of 1.92 and a beta of 0.64.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, November 13th. The insurance provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.03. Progressive had a return on equity of 26.09% and a net margin of 8.69%. As a group, research analysts expect that Progressive Corp will post 5.18 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 8th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, January 7th. Progressive’s payout ratio is currently 9.05%.

Several research analysts recently weighed in on the company. ValuEngine lowered Progressive from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Raymond James lowered Progressive from a “strong-buy” rating to an “outperform” rating and set a $85.00 price target on the stock. in a research report on Monday, January 13th. Buckingham Research dropped their price target on Progressive from $78.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Morgan Stanley lowered Progressive from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Co reissued a “hold” rating and set a $76.00 price target on shares of Progressive in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $81.71.

In other Progressive news, CMO M Jeffrey Charney sold 10,238 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $74.10, for a total value of $758,635.80. Following the transaction, the chief marketing officer now directly owns 91,166 shares of the company’s stock, valued at approximately $6,755,400.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 22,614 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $71.99, for a total value of $1,627,981.86. Following the transaction, the chief executive officer now directly owns 376,308 shares in the company, valued at approximately $27,090,412.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,817 shares of company stock worth $3,493,237. Insiders own 0.39% of the company’s stock.

Progressive Profile

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

Featured Article: What does cost of debt say about a company’s financial health?

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progressive Corp (NYSE:PGR).

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.