5,239 Shares in The Progressive Co. (NYSE:PGR) Purchased by Naviter Wealth LLC

Naviter Wealth LLC purchased a new stake in shares of The Progressive Co. (NYSE:PGR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,239 shares of the insurance provider’s stock, valued at approximately $1,255,000.

A number of other large investors also recently bought and sold shares of PGR. Atlantic Edge Private Wealth Management LLC increased its holdings 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 valued at $28,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC increased its holdings in Progressive by 16.5% in the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after buying an additional 42 shares in the last quarter. SYM FINANCIAL Corp increased its holdings in Progressive by 2.8% in the fourth 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 in the last quarter. Monument Capital Management boosted its stake in shares of Progressive by 0.3% during 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 in the last quarter. Finally, Kelleher Financial Advisors boosted its stake in shares of Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock worth $238,000 after acquiring an additional 45 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Price Performance

PGR stock opened at $279.77 on Friday. The Progressive Co. has a 1 year low of $194.49 and a 1 year high of $287.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a market capitalization of $164.00 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The business has a 50 day simple moving average of $254.23 and a 200-day simple moving average of $252.70.

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

Progressive Announces Dividend

The company 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Wall Street Analyst Weigh In

PGR has been the subject of a number of analyst reports. Roth Mkm upped their price target on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a research note on Tuesday, December 10th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research note on Thursday, December 26th. BMO Capital Markets reduced their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $277.59.

Insider Buying and Selling at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $279.94, for a total value of $2,799,400.00. Following the transaction, the chief financial officer now owns 269,566 shares of the company’s stock, valued at $75,462,306.04. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock worth $14,102,075 in the last ninety days. 0.34% of the stock is owned by insiders.

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.