Advyzon Investment Management LLC Purchases New Position in The Progressive Co. (NYSE:PGR)

Advyzon Investment Management LLC purchased a new stake in shares of The Progressive Co. (NYSE:PGR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,641 shares of the insurance provider’s stock, valued at approximately $393,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. grew its stake in Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock worth $60,000 after buying an additional 41 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. LRI Investments LLC grew its stake in Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 42 shares during the last quarter. SYM FINANCIAL Corp lifted its holdings in shares of Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after buying an additional 44 shares during the period. Finally, Monument Capital Management lifted its holdings in shares of Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after buying an additional 44 shares during the period. 85.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PGR has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Finally, Barclays boosted their price objective on Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.88.

Insider Activity

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the company’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 value of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of the company’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 $2,194,878.60. Following the completion of the sale, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $269.71 on Thursday. The Progressive Co. has a 12 month low of $186.94 and a 12 month high of $270.79. The stock has a 50 day moving average of $246.11 and a two-hundred day moving average of $248.36. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market cap of $158.00 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 0.67 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 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, analysts expect that The Progressive Co. will post 14.43 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.15%. Progressive’s dividend payout ratio (DPR) is currently 2.78%.

Progressive 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.