Wilkinson Global Asset Management LLC Has $37.76 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Wilkinson Global Asset Management LLC lowered its position in shares of The Progressive Co. (NYSE:PGR) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,576 shares of the insurance provider’s stock after selling 1,506 shares during the quarter. Progressive accounts for 2.3% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 20th biggest position. Wilkinson Global Asset Management LLC’s holdings in Progressive were worth $37,757,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Webster Bank N. A. acquired a new position in Progressive during the fourth quarter worth $26,000. Hager Investment Management Services LLC acquired a new position in shares of Progressive during the 4th quarter worth about $28,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after buying an additional 41 shares during the last quarter. Valley National Advisers Inc. increased its position 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 valued at $29,000 after acquiring an additional 120 shares during the last quarter. Finally, Independence Bank of Kentucky raised its holdings in Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 165 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of analyst reports. Bank of America raised their price target on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a report on Thursday, December 26th. Evercore ISI increased their price target on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company upped their price objective on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus price target of $275.88.

Insiders Place Their Bets

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction 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 approximately $78,539,110.22. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,361 shares of company stock worth $13,983,575 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Progressive Trading Up 0.4 %

Shares of Progressive stock opened at $263.59 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The firm has a 50-day moving average of $245.59 and a 200-day moving average of $248.21. The Progressive Co. has a 52-week low of $186.94 and a 52-week high of $270.62. The stock has a market cap of $154.41 billion, a PE ratio of 18.30, a PEG ratio of 0.66 and a beta of 0.42.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, sell-side analysts forecast that The Progressive Co. will post 14.44 EPS for the current 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 given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is currently 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.