AlphaCentric Advisors LLC Has $74,000 Position in The Progressive Co. (NYSE:PGR)

AlphaCentric Advisors LLC trimmed its position in shares of The Progressive Co. (NYSE:PGR) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 309 shares of the insurance provider’s stock after selling 54 shares during the period. AlphaCentric Advisors LLC’s holdings in Progressive were worth $74,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PGR. Creative Planning boosted its stake in Progressive by 14.9% during the third quarter. Creative Planning now owns 70,443 shares of the insurance provider’s stock worth $17,876,000 after buying an additional 9,114 shares in the last quarter. Global Retirement Partners LLC increased its stake in Progressive by 11.9% in the third quarter. Global Retirement Partners LLC now owns 3,070 shares of the insurance provider’s stock valued at $779,000 after acquiring an additional 326 shares during the period. Capital Investment Advisors LLC raised its position in Progressive by 34.8% in the third quarter. Capital Investment Advisors LLC now owns 1,434 shares of the insurance provider’s stock worth $364,000 after purchasing an additional 370 shares in the last quarter. New Century Financial Group LLC lifted its stake in Progressive by 7.4% during the third quarter. New Century Financial Group LLC now owns 1,980 shares of the insurance provider’s stock worth $502,000 after purchasing an additional 136 shares during the period. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Progressive in the 3rd quarter valued at approximately $2,538,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. BMO Capital Markets decreased their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America increased their target price on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Barclays decreased their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Evercore ISI lifted their target price on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research report on Thursday, December 26th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.71.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’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 sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by company insiders.

Progressive Stock Up 0.2 %

Shares of NYSE:PGR opened at $262.71 on Tuesday. 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 stock has a market cap of $153.90 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.42. The company has a 50 day moving average of $244.97 and a 200-day moving average of $247.54. The Progressive Co. has a one year low of $186.94 and a one year high of $270.62.

Progressive (NYSE:PGR) last released its earnings results 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, sell-side analysts forecast that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s payout ratio is 2.78%.

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.