Silver Oak Securities Incorporated Has $914,000 Stock Position in The Progressive Co. (NYSE:PGR)

Silver Oak Securities Incorporated cut its holdings in shares of The Progressive Co. (NYSE:PGR) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,815 shares of the insurance provider’s stock after selling 1,109 shares during the period. Silver Oak Securities Incorporated’s holdings in Progressive were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Webster Bank N. A. acquired a new position in Progressive in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive during the 4th quarter valued at $28,000. Valley National Advisers Inc. lifted its stake in shares of Progressive by 3,000.0% in the 4th 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 period. DiNuzzo Private Wealth Inc. boosted its position in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the last quarter. Finally, Independence Bank of Kentucky grew its stake in shares of Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 165 shares during the period. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI increased their target price on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods cut their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Bank of America boosted their price objective on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Wells Fargo & Company increased their target price on shares of Progressive from $302.00 to $313.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets decreased their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $275.71.

Progressive Stock Up 0.9 %

NYSE:PGR opened at $251.33 on Friday. The stock has a 50-day simple moving average of $245.92 and a 200 day simple moving average of $245.32. The Progressive Co. has a 52-week low of $180.68 and a 52-week high of $270.62. The company has a market cap of $147.23 billion, a PE ratio of 17.45, a PEG ratio of 0.63 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.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping the consensus estimate 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 expect that The Progressive Co. will post 14.4 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Insiders Place Their Bets

In related news, insider Andrew J. Quigg sold 681 shares of the 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 $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value 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 approximately $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock valued at $13,983,575 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.