Krilogy Financial LLC Invests $961,000 in The Progressive Corporation $PGR

Krilogy Financial LLC bought a new stake in shares of The Progressive Corporation (NYSE:PGR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,892 shares of the insurance provider’s stock, valued at approximately $961,000.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Progressive during the 4th quarter valued at $269,000. Bison Wealth LLC boosted its stake in Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after acquiring an additional 80 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in Progressive by 83.6% in the second quarter. Axxcess Wealth Management LLC now owns 2,591 shares of the insurance provider’s stock worth $691,000 after purchasing an additional 1,180 shares during the period. Finally, RFG Advisory LLC grew its holdings in Progressive by 21.0% in the second quarter. RFG Advisory LLC now owns 5,805 shares of the insurance provider’s stock worth $1,549,000 after purchasing an additional 1,007 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PGR. Bank of America dropped their price objective on shares of Progressive from $350.00 to $348.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Jefferies Financial Group set a $216.00 price target on Progressive in a research note on Wednesday. Wells Fargo & Company cut their price target on Progressive from $240.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, January 29th. JPMorgan Chase & Co. decreased their price objective on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Finally, Raymond James Financial lowered their target price on Progressive from $305.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Progressive currently has a consensus rating of “Hold” and a consensus price target of $250.35.

Progressive Stock Down 1.3%

PGR stock opened at $205.60 on Friday. The firm has a market capitalization of $120.56 billion, a PE ratio of 10.69, a P/E/G ratio of 7.30 and a beta of 0.32. The company has a quick ratio of 0.29, a current ratio of 0.38 and a debt-to-equity ratio of 0.23. The Progressive Corporation has a twelve month low of $197.92 and a twelve month high of $292.99. The stock’s 50 day moving average is $215.35 and its 200-day moving average is $228.25.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were issued a $0.10 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.08%.

Insider Activity

In related news, CIO Jonathan S. Bauer sold 3,105 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive directly owned 26,249 shares in the company, valued at approximately $5,363,983.15. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Broz sold 1,345 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $228.29, for a total transaction of $307,050.05. Following the completion of the sale, the insider owned 27,698 shares of the company’s stock, valued at approximately $6,323,176.42. This trade represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,443 shares of company stock valued at $2,723,061 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.