The Progressive Co. (NYSE:PGR) Position Lowered by Lantz Financial LLC

Lantz Financial LLC reduced its position in The Progressive Co. (NYSE:PGR) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,203 shares of the insurance provider’s stock after selling 246 shares during the quarter. Progressive makes up about 0.8% of Lantz Financial LLC’s investment portfolio, making the stock its 28th biggest holding. Lantz Financial LLC’s holdings in Progressive were worth $2,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Capital Management acquired a new stake in Progressive during the third quarter worth about $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Progressive during the 2nd quarter worth approximately $36,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progressive in the 3rd quarter worth approximately $49,000. Finally, Friedenthal Financial acquired a new position in Progressive during the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $238.58 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $248.27 and its 200 day moving average price is $243.31. The Progressive Co. has a 52-week low of $175.50 and a 52-week high of $270.62. The firm has a market cap of $139.76 billion, a P/E ratio of 17.34, a PEG ratio of 0.62 and a beta of 0.41.

Progressive Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays dropped their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. JPMorgan Chase & Co. upped their target price 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. Jefferies Financial Group raised their price target on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price objective on Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $274.65.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction 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 transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at $115,255,231.44. The trade was a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly 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 sold a total of 42,506 shares of company stock valued at $10,531,159 over the last ninety days. Insiders own 0.34% of the company’s stock.

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.