GenTrust LLC Raises Holdings in The Progressive Co. (NYSE:PGR)

GenTrust LLC boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 22.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,192 shares of the insurance provider’s stock after acquiring an additional 222 shares during the quarter. GenTrust LLC’s holdings in Progressive were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PGR. Webster Bank N. A. purchased a new stake in Progressive during the 4th quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new stake in Progressive during the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in Progressive by 54.7% in 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 period. Valley National Advisers Inc. lifted its holdings in Progressive by 3,000.0% in the 4th 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 period. Finally, Independence Bank of Kentucky lifted its holdings in Progressive by 1,650.0% in the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after buying an additional 165 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PGR. Keefe, Bruyette & Woods dropped 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. Evercore ISI increased their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Barclays increased their price objective on Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. Finally, Raymond James upgraded 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. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.59.

Progressive Stock Down 1.9 %

PGR stock opened at $273.13 on Thursday. The Progressive Co. has a twelve month low of $186.94 and a twelve month high of $280.25. 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 firm has a market cap of $160.00 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. The business has a 50 day moving average of $248.63 and a 200 day moving average of $250.30.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating 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%. On average, research analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm 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. 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 is 2.78%.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’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 directly owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 292,958 shares in the company, valued at approximately $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,361 shares of company stock worth $13,983,575. Insiders own 0.34% of the company’s stock.

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.