The Progressive Co. (NYSE:PGR) Shares Acquired by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC lifted its holdings in The Progressive Co. (NYSE:PGR) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,584 shares of the insurance provider’s stock after purchasing an additional 72 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Progressive were worth $380,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Webster Bank N. A. acquired a new position in shares of Progressive during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new position in Progressive during the 4th quarter valued at approximately $28,000. Valley National Advisers Inc. raised its holdings in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its stake 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 worth $35,000 after buying an additional 73 shares during the period. Finally, Independence Bank of Kentucky grew its holdings 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 valued at $42,000 after buying an additional 165 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This represents a 4.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. The trade was a 3.30 % 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 worth $13,983,575 in the last ninety days. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PGR. Keefe, Bruyette & Woods reduced their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Barclays lowered their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research report on Thursday, December 26th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Evercore ISI raised their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $275.71.

Progressive Price Performance

PGR stock opened at $250.64 on Monday. The Progressive Co. has a 1 year low of $180.72 and a 1 year high of $270.62. The firm has a market capitalization of $146.83 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The business has a 50 day simple moving average of $245.24 and a 200-day simple moving average of $245.80.

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

Progressive Dividend Announcement

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

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.