Fifth Third Wealth Advisors LLC Has $1.63 Million Stock Position in The Progressive Co. (NYSE:PGR)

Fifth Third Wealth Advisors LLC increased its stake in The Progressive Co. (NYSE:PGR) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 6,814 shares of the insurance provider’s stock after acquiring an additional 130 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Progressive were worth $1,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock worth $6,263,763,000 after acquiring an additional 315,411 shares in the last quarter. Geode Capital Management LLC boosted its stake in Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after purchasing an additional 1,682,213 shares during the period. FMR LLC grew its position in Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock worth $2,669,204,000 after purchasing an additional 170,618 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after purchasing an additional 330,667 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PGR shares. Bank of America upped their price target on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley restated an “overweight” rating and set a $310.00 price target on shares of Progressive in a report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $275.24.

Progressive Trading Up 1.0 %

Shares of PGR stock opened at $242.17 on Thursday. The Progressive Co. has a 12 month low of $166.92 and a 12 month high of $270.62. The company has a market cap of $141.87 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $251.06 and its two-hundred day moving average is $242.00.

Progressive (NYSE:PGR) last announced its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The firm had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. Equities analysts predict that The Progressive Co. will post 13.2 EPS for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s dividend payout ratio is presently 2.91%.

Insider Activity at Progressive

In other Progressive news, insider Steven Broz sold 2,981 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,919 shares of company stock worth $8,222,168 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.