RFG Advisory LLC Purchases 1,264 Shares of The Progressive Co. (NYSE:PGR)

RFG Advisory LLC raised its position in The Progressive Co. (NYSE:PGR) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,007 shares of the insurance provider’s stock after buying an additional 1,264 shares during the quarter. RFG Advisory LLC’s holdings in Progressive were worth $3,356,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raleigh Capital Management Inc. raised its stake in shares of Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 41 shares during the period. LRI Investments LLC raised its stake in shares of Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 42 shares during the period. Castleview Partners LLC raised its stake in shares of Progressive by 2.7% during the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares during the period. Washington Trust Bank raised its stake in shares of Progressive by 4.6% during the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock valued at $260,000 after purchasing an additional 45 shares during the period. Finally, Kelleher Financial Advisors raised its stake in shares of Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 45 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 of the company’s stock, valued at $115,255,231.44. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,506 shares of company stock valued at $10,531,159. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the subject of several recent analyst reports. Barclays reduced their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Jefferies Financial Group boosted their target price on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a research report on Thursday, December 26th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $274.65.

Progressive Trading Down 0.4 %

NYSE PGR opened at $238.58 on Friday. The Progressive Co. has a 1-year low of $175.50 and a 1-year high of $270.62. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $248.62 and a 200-day moving average of $243.11. The firm has a market cap of $139.76 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.