1,423 Shares in The Progressive Co. (NYSE:PGR) Bought by Yarger Wealth Strategies LLC

Yarger Wealth Strategies LLC acquired a new position in The Progressive Co. (NYSE:PGR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,423 shares of the insurance provider’s stock, valued at approximately $227,000.

Several other institutional investors also recently modified their holdings of PGR. Ritholtz Wealth Management boosted its position in Progressive by 13.4% during the fourth quarter. Ritholtz Wealth Management now owns 6,468 shares of the insurance provider’s stock valued at $1,030,000 after acquiring an additional 764 shares during the last quarter. Trueblood Wealth Management LLC acquired a new position in shares of Progressive during the fourth quarter valued at about $219,000. Kaizen Financial Strategies acquired a new position in shares of Progressive during the fourth quarter valued at about $315,000. Procyon Advisors LLC raised its holdings in shares of Progressive by 14.4% during the fourth quarter. Procyon Advisors LLC now owns 6,388 shares of the insurance provider’s stock valued at $1,017,000 after purchasing an additional 803 shares during the period. Finally, Tectonic Advisors LLC raised its holdings in shares of Progressive by 2.3% during the fourth quarter. Tectonic Advisors LLC now owns 35,137 shares of the insurance provider’s stock valued at $5,597,000 after purchasing an additional 779 shares during the period. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

Shares of Progressive stock opened at $206.82 on Friday. The firm has a market cap of $121.13 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 0.94 and a beta of 0.34. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $208.19. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $189.55 and its two-hundred day simple moving average is $167.28.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.53. The business had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.10 billion. Progressive had a net margin of 6.28% and a return on equity of 21.25%. During the same quarter last year, the firm earned $1.52 EPS. As a group, equities analysts expect that The Progressive Co. will post 9.82 EPS for the current year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, April 4th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Wednesday, April 3rd. Progressive’s payout ratio is 12.92%.

Insider Activity

In other news, insider Andrew J. Quigg sold 1,210 shares of Progressive stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $162.26, for a total transaction of $196,334.60. Following the sale, the insider now owns 27,247 shares of the company’s stock, valued at approximately $4,421,098.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Andrew J. Quigg sold 1,210 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $162.26, for a total transaction of $196,334.60. Following the sale, the insider now owns 27,247 shares of the company’s stock, valued at $4,421,098.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick K. Callahan sold 29,675 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the sale, the insider now directly owns 15,189 shares in the company, valued at approximately $2,889,859.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,949 shares of company stock valued at $10,671,740. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PGR. UBS Group upped their price objective on shares of Progressive from $159.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Bank of America increased their price objective on shares of Progressive from $256.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Raymond James lowered shares of Progressive from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 12th. TD Cowen started coverage on shares of Progressive in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $174.00 price objective for the company. Finally, Morgan Stanley upgraded shares of Progressive from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $185.00 to $227.00 in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $186.50.

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.