The Progressive Co. (NYSE:PGR) Stock Holdings Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,034 shares of the insurance provider’s stock after acquiring an additional 533 shares during the quarter. Progressive makes up approximately 1.0% of EverSource Wealth Advisors LLC’s portfolio, making the stock its 25th largest holding. EverSource Wealth Advisors LLC’s holdings in Progressive were worth $15,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGR. Raymond James Financial Inc. bought a new position in Progressive during the fourth quarter valued at approximately $408,416,000. Geode Capital Management LLC raised its position in Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after acquiring an additional 1,682,213 shares in the last quarter. Jennison Associates LLC raised its position in Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after acquiring an additional 842,109 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Progressive by 75.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after acquiring an additional 641,943 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Progressive by 36,819.8% during the fourth quarter. Proficio Capital Partners LLC now owns 568,195 shares of the insurance provider’s stock valued at $136,145,000 after acquiring an additional 566,656 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. 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. Finally, Barclays increased their price target on Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.59.

Insiders Place Their Bets

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 473,736 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,257 shares of company stock worth $15,752,781 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.5 %

PGR opened at $277.33 on Wednesday. The Progressive Co. has a fifty-two week low of $195.57 and a fifty-two week 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’s fifty day moving average price is $255.77 and its two-hundred day moving average price is $253.33. The company has a market capitalization of $162.57 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last posted 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 net margin of 11.25% and a return on equity of 33.79%. On average, analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

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