Capital Performance Advisors LLP Buys 143 Shares of The Progressive Co. (NYSE:PGR)

Capital Performance Advisors LLP increased its stake in The Progressive Co. (NYSE:PGR) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,182 shares of the insurance provider’s stock after purchasing an additional 143 shares during the quarter. Capital Performance Advisors LLP’s holdings in Progressive were worth $283,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Creative Planning grew its stake in Progressive by 14.9% in the 3rd quarter. Creative Planning now owns 70,443 shares of the insurance provider’s stock valued at $17,876,000 after buying an additional 9,114 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Progressive in the 3rd quarter valued at approximately $223,000. nVerses Capital LLC purchased a new position in shares of Progressive during the 3rd quarter valued at $152,000. Good Life Advisors LLC purchased a new position in shares of Progressive during the 3rd quarter valued at $372,000. Finally, Global Retirement Partners LLC grew its position in shares of Progressive by 11.9% during the 3rd quarter. Global Retirement Partners LLC now owns 3,070 shares of the insurance provider’s stock valued at $779,000 after purchasing an additional 326 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In related news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,361 shares of company stock valued at $13,983,575. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Progressive stock opened at $262.71 on Monday. 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 company has a market capitalization of $153.90 billion, a PE ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.42. The firm has a fifty day simple moving average of $244.97 and a two-hundred day simple moving average of $247.31. The Progressive Co. has a twelve month low of $186.94 and a twelve month high of $270.62.

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

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid 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 (DPR) is 2.78%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PGR. Barclays reduced their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their price target on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Finally, Bank of America boosted their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

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.