The Progressive Co. (NYSE:PGR) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in The Progressive Co. (NYSE:PGR) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,047 shares of the insurance provider’s stock after acquiring an additional 3,005 shares during the period. Apollon Wealth Management LLC’s holdings in Progressive were worth $1,919,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Progressive by 14.1% during the 3rd quarter. Wellington Management Group LLP now owns 21,554,503 shares of the insurance provider’s stock worth $3,002,542,000 after buying an additional 2,666,449 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Progressive by 2.8% in the 3rd quarter. Northern Trust Corp now owns 5,982,841 shares of the insurance provider’s stock valued at $833,410,000 after acquiring an additional 162,916 shares during the period. Deutsche Bank AG boosted its stake in Progressive by 2.9% during the 3rd quarter. Deutsche Bank AG now owns 5,641,166 shares of the insurance provider’s stock worth $785,814,000 after purchasing an additional 156,332 shares during the period. Invesco Ltd. grew its position in Progressive by 31.8% during the 3rd quarter. Invesco Ltd. now owns 4,781,075 shares of the insurance provider’s stock worth $666,004,000 after purchasing an additional 1,154,591 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Progressive by 10.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,363,575 shares of the insurance provider’s stock valued at $468,546,000 after purchasing an additional 309,287 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PGR. Bank of America lowered their price target on Progressive from $279.00 to $273.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. upped their price target on Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Jefferies Financial Group boosted their price objective on shares of Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods raised their target price on shares of Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $211.88.

Insider Transactions at Progressive

In other news, 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 completion of the sale, the insider now owns 15,189 shares in the company, valued at approximately $2,889,859.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Patrick K. Callahan sold 29,675 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the completion of the sale, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Devin C. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the transaction, the director now directly owns 7,176 shares in the company, valued at $1,494,976.08. The disclosure for this sale can be found here. Insiders sold a total of 39,139 shares of company stock worth $7,458,139 in the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive Trading Up 0.7 %

NYSE PGR traded up $1.47 during mid-day trading on Wednesday, reaching $216.93. 606,313 shares of the stock were exchanged, compared to its average volume of 2,586,608. The business’s fifty day simple moving average is $205.21 and its 200 day simple moving average is $180.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36. The stock has a market capitalization of $127.06 billion, a PE ratio of 22.05, a PEG ratio of 0.82 and a beta of 0.34. The Progressive Co. has a 1-year low of $111.41 and a 1-year high of $217.77.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The business had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, research analysts anticipate that The Progressive Co. will post 11.34 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.18%. Progressive’s dividend payout ratio is presently 4.09%.

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.