Advisor OS LLC Has $1.42 Million Holdings in The Progressive Co. (NYSE:PGR)

Advisor OS LLC cut its position in shares of The Progressive Co. (NYSE:PGR) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,923 shares of the insurance provider’s stock after selling 690 shares during the quarter. Advisor OS LLC’s holdings in Progressive were worth $1,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. purchased a new stake in shares of Progressive in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new stake in Progressive during the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings 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 valued at $28,000 after purchasing an additional 41 shares in the last quarter. Valley National Advisers Inc. boosted its position 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 buying an additional 120 shares during the period. Finally, Independence Bank of Kentucky grew its holdings in shares of Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after buying an additional 165 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PGR. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. Evercore ISI increased their price target on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. BMO Capital Markets dropped their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, TD Cowen lifted their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.59.

Progressive Trading Up 2.2 %

Shares of NYSE:PGR opened at $278.62 on Wednesday. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $279.93. The firm has a fifty day moving average price of $247.97 and a 200 day moving average price of $250.14. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $163.22 billion, a PE ratio of 19.35, a P/E/G ratio of 1.70 and a beta of 0.42.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Insider Activity

In related news, insider Lori A. Niederst sold 3,855 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total value of $952,416.30. Following the transaction, the insider now directly owns 39,040 shares in the company, valued at approximately $9,645,222.40. This trade represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey D. Kelly sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $250.00, for a total transaction of $2,500,000.00. Following the transaction, the director now directly owns 27,741 shares of the company’s stock, valued at approximately $6,935,250. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,361 shares of company stock valued at $13,983,575 over the last 90 days. 0.34% of the stock is currently owned by company 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.