707 Shares in The Progressive Co. (NYSE:PGR) Acquired by YANKCOM Partnership

YANKCOM Partnership acquired a new position in The Progressive Co. (NYSE:PGR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 707 shares of the insurance provider’s stock, valued at approximately $169,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PGR. Dynamic Advisor Solutions LLC grew its stake in Progressive by 188.9% in the third quarter. Dynamic Advisor Solutions LLC now owns 3,918 shares of the insurance provider’s stock worth $994,000 after purchasing an additional 2,562 shares in the last quarter. Brookstone Capital Management grew its stake in Progressive by 16.6% in the third quarter. Brookstone Capital Management now owns 1,055 shares of the insurance provider’s stock worth $268,000 after purchasing an additional 150 shares in the last quarter. Strategic Wealth Partners Ltd. grew its stake in Progressive by 13.4% in the third quarter. Strategic Wealth Partners Ltd. now owns 5,319 shares of the insurance provider’s stock worth $1,350,000 after purchasing an additional 627 shares in the last quarter. True North Advisors LLC bought a new position in Progressive in the third quarter worth approximately $208,000. Finally, Wedmont Private Capital grew its stake in Progressive by 8.0% in the third quarter. Wedmont Private Capital now owns 7,399 shares of the insurance provider’s stock worth $1,817,000 after purchasing an additional 551 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling 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 transaction of $2,681,299.09. Following the completion of the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew J. Quigg sold 681 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 $164,870.10. Following the transaction, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,361 shares of company stock worth $13,983,575. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $251.33 on Friday. The firm has a market capitalization of $147.23 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The business has a fifty day moving average of $245.92 and a 200 day moving average of $245.32. The Progressive Co. has a 1 year low of $180.68 and a 1 year high of $270.62.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, research analysts expect that The Progressive Co. will post 14.4 earnings per share for the current year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid 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 dividend yield of 0.16%. Progressive’s payout ratio is currently 2.78%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PGR shares. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research report on Tuesday, December 10th. Morgan Stanley increased their target price on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays decreased their price objective on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and a consensus 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.