The Progressive Co. (NYSE:PGR) Shares Sold by First National Corp MA ADV

First National Corp MA ADV lowered its holdings in The Progressive Co. (NYSE:PGR) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,067 shares of the insurance provider’s stock after selling 97 shares during the period. First National Corp MA ADV’s holdings in Progressive were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Brookstone Capital Management raised its position in Progressive by 16.6% in the third quarter. Brookstone Capital Management now owns 1,055 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 150 shares during the period. LVW Advisors LLC acquired a new stake in shares of Progressive in the third quarter valued at about $242,000. Valeo Financial Advisors LLC raised its holdings in shares of Progressive by 5.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,966 shares of the insurance provider’s stock valued at $1,006,000 after buying an additional 212 shares during the period. Perfromance Wealth Partners LLC lifted its position in Progressive by 5.5% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 1,145 shares of the insurance provider’s stock worth $291,000 after acquiring an additional 60 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its holdings in Progressive by 33.6% in the 3rd quarter. Gateway Investment Advisers LLC now owns 2,407 shares of the insurance provider’s stock worth $611,000 after acquiring an additional 605 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Down 0.3 %

Progressive stock opened at $250.64 on Monday. 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 1 year low of $180.72 and a 1 year high of $270.62. The firm’s 50-day moving average is $245.24 and its 200-day moving average is $245.80. The company has a market cap of $146.83 billion, a P/E ratio of 17.41, a PEG ratio of 0.64 and a beta of 0.42.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, equities analysts expect that The Progressive Co. will post 14.44 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. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PGR. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HSBC downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research note on Tuesday, December 10th. Morgan Stanley upped their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company increased their price target on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average target price of $275.71.

Insider Buying and Selling at Progressive

In other Progressive news, Director Jeffrey D. Kelly sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $250.00, for a total value of $2,500,000.00. Following the sale, the director now owns 27,741 shares in the company, valued at approximately $6,935,250. This trade represents a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lori A. Niederst sold 3,855 shares of the business’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 transaction, the insider now owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. This represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is owned by insiders.

Progressive Company 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.