The Progressive Co. (NYSE:PGR) Shares Sold by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC decreased its position in shares of The Progressive Co. (NYSE:PGR) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,636 shares of the insurance provider’s stock after selling 308 shares during the quarter. Progressive comprises about 1.2% of Accretive Wealth Partners LLC’s investment portfolio, making the stock its 19th largest holding. Accretive Wealth Partners LLC’s holdings in Progressive were worth $2,788,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Progressive by 98.2% during the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after acquiring an additional 391 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Progressive by 90.9% during the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after acquiring an additional 3,720 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Progressive by 7.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after acquiring an additional 330,667 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Progressive by 2,262.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock valued at $103,990,000 after acquiring an additional 415,628 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Progressive by 30.5% in the fourth quarter. Nordea Investment Management AB now owns 1,069,697 shares of the insurance provider’s stock worth $255,882,000 after purchasing an additional 249,958 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE:PGR opened at $262.71 on Friday. The company has a market cap of $153.90 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The company’s fifty day moving average is $244.80 and its two-hundred day moving average is $246.75. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 12-month low of $186.94 and a 12-month high of $270.62.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities analysts expect that The Progressive Co. will post 14.44 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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

Insider Activity at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the firm’s 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 transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,361 shares of company stock valued at $13,983,575. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Bank of America upped their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Morgan Stanley upped their price objective on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays reduced their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.71.

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.