TriaGen Wealth Management LLC Sells 5,475 Shares of The Progressive Co. (NYSE:PGR)

TriaGen Wealth Management LLC decreased its position in shares of The Progressive Co. (NYSE:PGR) by 66.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,723 shares of the insurance provider’s stock after selling 5,475 shares during the period. TriaGen Wealth Management LLC’s holdings in Progressive were worth $652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 391 shares during the period. Townsquare Capital LLC raised its stake in Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after acquiring an additional 3,720 shares during the period. Diversified Trust Co grew its holdings in Progressive by 84.3% during the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after buying an additional 11,770 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after buying an additional 330,667 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Progressive by 2,262.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock valued at $103,990,000 after buying an additional 415,628 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 the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $2,681,299.09. Following the completion of the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PGR shares. JPMorgan Chase & Co. increased their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. 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. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Bank of America raised their target price on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.71.

Progressive Stock Down 1.0 %

NYSE:PGR opened at $246.78 on Friday. The Progressive Co. has a twelve month low of $176.37 and a twelve month high of $270.62. The company has a market cap of $144.57 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41. The stock has a fifty day simple moving average of $247.40 and a 200-day simple moving average of $244.30. 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 (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 34.32% and a net margin of 11.25%. Analysts anticipate that The Progressive Co. will post 14.03 EPS for the current year.

Progressive Announces Dividend

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 of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s payout ratio is currently 2.78%.

Progressive Company 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.