The Progressive Co. (NYSE:PGR) is James Hambro & Partners LLP’s 9th Largest Position

James Hambro & Partners LLP reduced its stake in shares of The Progressive Co. (NYSE:PGR) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 511,468 shares of the insurance provider’s stock after selling 18,038 shares during the quarter. Progressive accounts for approximately 4.8% of James Hambro & Partners LLP’s portfolio, making the stock its 9th largest holding. James Hambro & Partners LLP owned about 0.09% of Progressive worth $122,653,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PGR. Raleigh Capital Management Inc. increased its position in Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 41 shares during the period. LRI Investments LLC raised its stake in Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after buying an additional 42 shares during the last quarter. Castleview Partners LLC raised its position in shares of Progressive by 2.7% in the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 45 shares during the last quarter. Washington Trust Bank lifted its stake in shares of Progressive by 4.6% in the third quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after buying an additional 45 shares in the last quarter. Finally, Kelleher Financial Advisors boosted its stake in Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 45 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Price Performance

Progressive stock opened at $238.58 on Monday. The Progressive Co. has a 12-month low of $175.50 and a 12-month high of $270.62. The firm has a 50-day moving average price of $248.27 and a 200-day moving average price of $243.79. The firm has a market capitalization of $139.76 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s payout ratio is currently 2.91%.

Insider Activity

In related news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,506 shares of company stock valued at $10,531,159. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a report on Thursday, December 26th. Morgan Stanley reduced their price target on Progressive from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company raised their price objective on shares of Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.65.

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.