California State Teachers Retirement System trimmed its stake in Progressive Corp (NYSE:PGR) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 973,006 shares of the insurance provider’s stock after selling 11,268 shares during the quarter. California State Teachers Retirement System’s holdings in Progressive were worth $54,800,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Exane Derivatives purchased a new position in Progressive during the 4th quarter valued at about $104,000. Valeo Financial Advisors LLC lifted its position in Progressive by 13,675.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 84,029 shares of the insurance provider’s stock valued at $118,000 after acquiring an additional 83,419 shares during the period. Balentine LLC lifted its position in Progressive by 3,273.0% during the 3rd quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock valued at $121,000 after acquiring an additional 2,422 shares during the period. First Personal Financial Services lifted its position 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. Finally, Tiedemann Wealth Management LLC purchased a new position in Progressive during the 3rd quarter valued at about $200,000. 81.11% of the stock is owned by hedge funds and other institutional investors.
In other news, insider William M. Cody sold 25,000 shares of Progressive stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $56.10, for a total value of $1,402,500.00. Following the completion of the sale, the insider now directly owns 137,722 shares in the company, valued at $7,726,204.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.
Progressive Corp (NYSE PGR) opened at $60.01 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.36. The stock has a market cap of $35,152.00, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.34 and a beta of 0.71. Progressive Corp has a twelve month low of $38.61 and a twelve month high of $60.69.
Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Progressive had a net margin of 5.93% and a return on equity of 15.96%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. sell-side analysts predict that Progressive Corp will post 3.52 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Markets Daily and is the property of of Markets Daily. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.themarketsdaily.com/2018/03/14/progressive-corp-pgr-shares-sold-by-california-state-teachers-retirement-system.html.
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.
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).
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.