The Progressive Co. (NYSE:PGR) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC boosted its position in shares of The Progressive Co. (NYSE:PGR) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,175 shares of the insurance provider’s stock after acquiring an additional 105 shares during the period. Global Retirement Partners LLC’s holdings in Progressive were worth $761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PGR. Webster Bank N. A. purchased a new stake in shares of Progressive during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive during the 4th quarter worth approximately $28,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of 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 buying an additional 41 shares during the last quarter. Valley National Advisers Inc. lifted its position in shares of 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 buying an additional 120 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its position in shares of Progressive by 1,650.0% during the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 0.6 %

Shares of Progressive stock opened at $265.99 on Friday. The company has a market cap of $155.82 billion, a P/E ratio of 18.47, a PEG ratio of 1.70 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a one year low of $186.94 and a one year high of $270.79. The firm has a fifty day moving average of $246.89 and a two-hundred day moving average of $249.12.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Insider Transactions at Progressive

In other news, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total transaction of $952,416.30. Following the transaction, the insider now directly owns 39,040 shares of the company’s stock, valued at $9,645,222.40. This represents a 8.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,361 shares of company stock valued at $13,983,575 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PGR has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets reduced their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $276.12.

Progressive 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.