Compagnie Lombard Odier SCmA Buys 55,701 Shares of The Progressive Co. (NYSE:PGR)

Compagnie Lombard Odier SCmA raised its stake in shares of The Progressive Co. (NYSE:PGR) by 29.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 246,319 shares of the insurance provider’s stock after acquiring an additional 55,701 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Progressive were worth $59,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Webster Bank N. A. bought a new position in Progressive during the 4th quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in Progressive during the 4th quarter worth approximately $28,000. Atlantic Edge Private Wealth Management LLC raised its stake in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 41 shares during the period. Valley National Advisers Inc. raised its stake in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 120 shares during the period. Finally, DiNuzzo Private Wealth Inc. grew its holdings in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $115,255,231.44. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last three months. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Up 2.0 %

NYSE:PGR opened at $262.02 on Friday. The Progressive Co. has a twelve month low of $182.23 and a twelve month high of $270.62. The company has a market cap of $153.49 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The stock has a fifty day simple moving average of $244.79 and a 200-day simple moving average of $246.64. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Analysts anticipate that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive’s payout ratio is currently 2.78%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays cut their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. TD Cowen raised their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Evercore ISI raised their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $275.71.

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.