Strategic Family Wealth Counselors L.L.C. Buys New Position in The Progressive Corporation $PGR

Strategic Family Wealth Counselors L.L.C. bought a new stake in shares of The Progressive Corporation (NYSE:PGR) in the fourth quarter, Holdings Channel reports. The firm bought 2,677 shares of the insurance provider’s stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PGR. Dagco Inc. purchased a new position in Progressive during the 4th quarter valued at about $28,000. Ameriflex Group Inc. boosted its holdings in Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Bangor Savings Bank boosted its holdings in Progressive by 60.4% during the 4th quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 58 shares during the period. Riverview Trust Co boosted its holdings in Progressive by 48.6% during the 4th quarter. Riverview Trust Co now owns 162 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 53 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Progressive by 833.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 168 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 150 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PGR shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 price target on shares of Progressive in a research report on Monday, February 23rd. Zacks Research raised Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Citigroup reduced their price target on Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Argus raised Progressive to a “hold” rating in a research report on Thursday, March 5th. Finally, Keefe, Bruyette & Woods reduced their price target on Progressive from $227.00 to $210.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Progressive presently has an average rating of “Hold” and a consensus target price of $238.39.

Insiders Place Their Bets

In other Progressive news, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the transaction, the insider owned 32,348 shares of the company’s stock, valued at $6,857,776. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Carl G. Joyce sold 270 shares of Progressive stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the transaction, the chief accounting officer directly owned 558 shares in the company, valued at approximately $115,227. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,933 shares of company stock worth $1,441,564 over the last 90 days. Insiders own 0.32% of the company’s stock.

Progressive News Summary

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive continued its shareholder-return program by declaring a quarterly dividend of $0.10 per share, reinforcing management’s commitment to returning capital to investors. Progressive stock overview
• Positive Sentiment: Recent coverage highlighted Progressive’s CFO transition alongside an ongoing buyback plan, which suggests management is still focused on disciplined capital allocation and supporting shareholder value. Does Progressive’s (PGR) CFO Transition and Buyback Plan Reveal a Deeper Capital Allocation Strategy?
• Neutral Sentiment: The dividend announcement is small in absolute terms and appears to be a standard, expected update, so it is unlikely to materially change near-term fundamentals on its own.
• Negative Sentiment: With no new earnings beat or guidance raise in the latest headlines, the stock may be under pressure from broader profit-taking and investor focus on valuation after a strong prior run.

Progressive Price Performance

Shares of NYSE PGR opened at $196.09 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The Progressive Corporation has a fifty-two week low of $191.75 and a fifty-two week high of $289.96. The firm has a market capitalization of $114.58 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 5.74 and a beta of 0.31. The stock’s 50-day simple moving average is $201.58 and its 200-day simple moving average is $210.73.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. During the same quarter last year, the company earned $4.37 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that The Progressive Corporation will post 16.4 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is 2.03%.

Progressive Company 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.