Cable Hill Partners LLC Purchases 374 Shares of The Progressive Co. (NYSE:PGR)

Cable Hill Partners LLC raised its position in The Progressive Co. (NYSE:PGR) by 26.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,786 shares of the insurance provider’s stock after purchasing an additional 374 shares during the quarter. Cable Hill Partners LLC’s holdings in Progressive were worth $428,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Webster Bank N. A. bought a new position in Progressive in the fourth quarter valued at about $26,000. Hager Investment Management Services LLC bought a new position in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC raised its position in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. Valley National Advisers Inc. raised its position in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 120 shares during the last quarter. Finally, Independence Bank of Kentucky raised its position in Progressive by 1,650.0% in the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 165 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday. 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 research report on Thursday, December 26th. Roth Mkm raised their price objective on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America raised their price objective on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their price objective on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and an average target price of $277.59.

Progressive Trading Down 1.9 %

Shares of Progressive stock opened at $273.13 on Thursday. 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 52 week low of $186.94 and a 52 week high of $280.25. The stock has a 50 day moving average price of $248.63 and a two-hundred day moving average price of $250.30. The stock has a market capitalization of $160.00 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating 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, equities analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

Insider Buying and Selling at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $2,680,900.00. Following 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 sold 56,361 shares of company stock valued at $13,983,575. Company insiders own 0.34% of the company’s stock.

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.