The Progressive Co. (NYSE:PGR) Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC increased its stake in shares of The Progressive Co. (NYSE:PGR) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,944 shares of the insurance provider’s stock after purchasing an additional 287 shares during the quarter. New York Life Investment Management LLC’s holdings in Progressive were worth $20,833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGR. Atlantic Edge Private Wealth Management LLC increased its position 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 worth $28,000 after purchasing an additional 41 shares during the period. LRI Investments LLC increased its position in Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares during the period. SYM FINANCIAL Corp increased its position in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 44 shares during the period. Monument Capital Management grew 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 worth $3,298,000 after acquiring an additional 44 shares during the period. Finally, Washington Trust Bank grew its holdings in shares of Progressive by 4.6% in the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after acquiring an additional 45 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the 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 of the company’s stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of research reports. BMO Capital Markets lowered their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a report on Thursday, December 26th. Morgan Stanley upped their price target on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays upped their price target on Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price target on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $277.59.

Progressive Trading Down 1.9 %

Shares of Progressive stock opened at $273.13 on Thursday. The Progressive Co. has a fifty-two week low of $186.94 and a fifty-two week high of $280.25. The firm has a market cap of $160.00 billion, a PE ratio of 18.97, a P/E/G ratio of 1.70 and a beta of 0.42. The business’s fifty day moving average is $248.63 and its two-hundred day moving average is $250.30. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. Analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) 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.