UBS Asset Management Americas Inc. increased its stake in Progressive Corp (NYSE:PGR) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,243,102 shares of the insurance provider’s stock after purchasing an additional 292,245 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Progressive were worth $126,332,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Exane Derivatives bought a new stake in shares of Progressive in the 4th quarter worth approximately $104,000. Balentine LLC raised its holdings in shares of Progressive by 3,273.0% in the 3rd quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after purchasing an additional 2,422 shares during the period. First Personal Financial Services raised its holdings in Progressive by 101.8% during the 4th quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 1,111 shares during the period. Tiedemann Wealth Management LLC bought a new stake in Progressive during the 3rd quarter valued at $200,000. Finally, Parkwood LLC bought a new stake in Progressive during the 3rd quarter valued at $201,000. 79.72% of the stock is currently owned by institutional investors.
In other news, insider William M. Cody sold 25,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the completion of the transaction, the insider now directly owns 137,722 shares of the company’s stock, valued at $7,726,204.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.
Shares of Progressive Corp (NYSE:PGR) opened at $57.35 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.37 and a quick ratio of 0.50. The firm has a market cap of $33,394.91, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82. Progressive Corp has a one year low of $38.54 and a one year high of $58.25.
Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. Progressive had a net margin of 5.93% and a return on equity of 15.96%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. equities analysts anticipate that Progressive Corp will post 3.52 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, February 2nd were paid a dividend of $1.125 per share. This represents a dividend yield of 0.0203325501536237%. The ex-dividend date of this dividend was Thursday, February 1st. Progressive’s dividend payout ratio (DPR) is 41.18%.
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The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.
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