The Progressive Co. (NYSE:PGR) Shares Bought by Evermay Wealth Management LLC

Evermay Wealth Management LLC lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 80.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,239 shares of the insurance provider’s stock after acquiring an additional 554 shares during the quarter. Evermay Wealth Management LLC’s holdings in Progressive were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PGR. Versant Capital Management Inc boosted its position in shares of Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after buying an additional 391 shares during the period. Townsquare Capital LLC boosted its holdings in Progressive by 90.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after acquiring an additional 3,720 shares during the period. Diversified Trust Co grew its position in Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after acquiring an additional 11,770 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 purchasing an additional 330,667 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position 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 worth $103,990,000 after purchasing an additional 415,628 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Down 1.0 %

Shares of Progressive stock opened at $246.78 on Friday. The Progressive Co. has a twelve month low of $176.37 and a twelve month high of $270.62. The stock has a market capitalization of $144.57 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.64 and a beta of 0.41. 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 business’s 50 day simple moving average is $247.01 and its 200-day simple moving average is $244.51.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 34.32%. Equities research analysts forecast that The Progressive Co. will post 14.03 earnings per share for the current year.

Progressive Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PGR shares. Evercore ISI raised their price target on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Bank of America raised their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. BMO Capital Markets cut their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, TD Cowen lifted their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and a consensus target price of $275.71.

Insider Transactions at Progressive

In related news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the sale, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’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 sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. The trade was 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 sold 56,361 shares of company stock worth $13,983,575. Company insiders own 0.34% of the company’s stock.

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.