The Progressive Co. (NYSE:PGR) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,582 shares of the insurance provider’s stock after purchasing an additional 162 shares during the period. Wealthspire Advisors LLC’s holdings in Progressive were worth $1,577,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC grew its stake in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares during the period. SYM FINANCIAL Corp grew its position in Progressive by 2.8% during the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after purchasing an additional 44 shares in the last quarter. Monument Capital Management increased its stake in Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after buying an additional 44 shares during the period. Finally, Washington Trust Bank lifted its position in Progressive by 4.6% in the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after buying an additional 45 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progressive

In other Progressive news, insider Lori A. Niederst sold 3,855 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the company’s 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 completion of the transaction, the insider now owns 33,612 shares of the company’s stock, valued at $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 sold a total of 56,361 shares of company stock valued at $13,983,575 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Trading Up 2.5 %

Progressive stock opened at $272.91 on Tuesday. The firm has a market capitalization of $159.87 billion, a PE ratio of 18.95, a PEG ratio of 1.70 and a beta of 0.42. The business’s 50-day simple moving average is $247.35 and its 200-day simple moving average is $249.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a 52 week low of $186.94 and a 52 week high of $275.52.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 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%. Equities research analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

PGR has been the topic of several research analyst reports. Barclays boosted their price target on shares of Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a report on Tuesday, December 10th. Bank of America increased their price objective on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Progressive has an average rating of “Moderate Buy” and an average target price of $276.12.

About Progressive

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.