Kapstone Financial Advisors LLC Buys 80 Shares of The Progressive Co. (NYSE:PGR)

Kapstone Financial Advisors LLC raised its stake in shares of The Progressive Co. (NYSE:PGR) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,550 shares of the insurance provider’s stock after acquiring an additional 80 shares during the period. Kapstone Financial Advisors LLC’s holdings in Progressive were worth $382,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Progressive by 44.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 4,226 shares of the insurance provider’s stock valued at $1,013,000 after acquiring an additional 1,305 shares during the last quarter. Pinion Investment Advisors LLC bought a new position in shares of Progressive in the 4th quarter valued at about $592,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Progressive by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,951,899 shares of the insurance provider’s stock valued at $946,915,000 after acquiring an additional 115,681 shares during the last quarter. James Reed Financial Services Inc. bought a new position in shares of Progressive in the 4th quarter valued at about $817,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Progressive by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,736 shares of the insurance provider’s stock valued at $4,250,000 after acquiring an additional 2,593 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the sale, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. The trade was a 3.41 % 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 worth $14,102,075 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $284.95 on Tuesday. The firm has a market cap of $166.93 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.70 and a beta of 0.42. The company’s 50 day moving average is $251.13 and its 200 day moving average is $251.57. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 52-week low of $187.32 and a 52-week high of $285.28.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, sell-side analysts anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s dividend payout ratio (DPR) is 2.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PGR. Roth Mkm increased their price target on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Bank of America increased their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Barclays increased their price objective on shares of Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Finally, TD Cowen increased their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and an average price target of $277.59.

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.