The Progressive Co. (NYSE:PGR) is NFC Investments LLC’s 6th Largest Position

NFC Investments LLC trimmed its position in The Progressive Co. (NYSE:PGR) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,733 shares of the insurance provider’s stock after selling 85 shares during the quarter. Progressive comprises 5.8% of NFC Investments LLC’s holdings, making the stock its 6th largest position. NFC Investments LLC’s holdings in Progressive were worth $21,022,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PGR. Webster Bank N. A. purchased a new position in shares of Progressive in the fourth quarter worth about $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive in the fourth quarter worth about $28,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Progressive by 54.7% in the fourth 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 last quarter. Valley National Advisers Inc. raised its stake 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 worth $29,000 after purchasing an additional 120 shares during the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Progressive in the fourth quarter worth about $32,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew J. Quigg sold 681 shares of Progressive 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 $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,257 shares of company stock valued at $15,752,781 over the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the topic of several analyst reports. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a report on Tuesday, December 10th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets dropped their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Roth Mkm raised their target price on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average price target of $281.76.

Progressive Stock Performance

Shares of NYSE:PGR opened at $283.87 on Monday. 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 business’s 50 day moving average price is $258.14 and its 200-day moving average price is $254.07. The firm has a market capitalization of $166.41 billion, a PE ratio of 19.71, a P/E/G ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $287.49.

Progressive (NYSE:PGR) last issued its quarterly 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%. As a group, equities research analysts expect that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s dividend payout ratio is presently 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.