E Fund Management Hong Kong Co. Ltd. Takes Position in The Progressive Co. (NYSE:PGR)

E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of The Progressive Co. (NYSE:PGR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 281 shares of the insurance provider’s stock, valued at approximately $67,000.

A number of other institutional investors have also recently bought and sold shares of the company. Davis Capital Management acquired a new position in shares of Progressive in the 3rd quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Kimelman & Baird LLC acquired a new position in Progressive in the second quarter valued at about $36,000. Friedenthal Financial bought a new stake in shares of Progressive in the third quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progressive during the third quarter worth about $49,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insiders Place Their Bets

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $114,691,485.60. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the firm’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 sale, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,506 shares of company stock valued at $10,531,159. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research report on Tuesday, December 10th. TD Cowen upped their price target on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lifted their price target on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $274.65.

Progressive Stock Down 0.4 %

NYSE:PGR opened at $238.58 on Monday. The Progressive Co. has a twelve month low of $175.50 and a twelve month high of $270.62. The firm has a market capitalization of $139.76 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $248.27 and its two-hundred day moving average price is $243.55.

Progressive Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. Progressive’s payout ratio is 2.91%.

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.