Wall Street Financial Group Inc. Sells 97 Shares of The Progressive Co. (NYSE:PGR)

Wall Street Financial Group Inc. lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 4.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,998 shares of the insurance provider’s stock after selling 97 shares during the quarter. Progressive accounts for about 0.5% of Wall Street Financial Group Inc.’s portfolio, making the stock its 27th largest position. Wall Street Financial Group Inc.’s holdings in Progressive were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PGR. Davis Capital Management purchased a new stake in Progressive in the third quarter worth $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Progressive by 114.1% in the third 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. Kimelman & Baird LLC purchased a new position in Progressive in the 2nd quarter worth about $36,000. Friedenthal Financial bought a new stake in Progressive during the 3rd quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progressive in the 3rd quarter valued at about $49,000. Institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the firm’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 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 trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,938 shares of company stock worth $7,473,490. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR opened at $240.64 on Wednesday. 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 firm has a market cap of $140.97 billion, a PE ratio of 17.49, a P/E/G ratio of 0.64 and a beta of 0.41. The Progressive Co. has a 12 month low of $169.57 and a 12 month high of $270.62. The stock has a fifty day moving average price of $249.85 and a 200-day moving average price of $242.95.

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 issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PGR. Wells Fargo & Company raised their target price on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Bank of America raised their price objective on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. TD Cowen raised their price target on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $274.65.

About Progressive

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.