Certuity LLC Has $403,000 Stock Position in The Progressive Co. (NYSE:PGR)

Certuity LLC grew its holdings in The Progressive Co. (NYSE:PGR) by 32.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,683 shares of the insurance provider’s stock after acquiring an additional 413 shares during the quarter. Certuity LLC’s holdings in Progressive were worth $403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Webster Bank N. A. bought a new stake in Progressive in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Progressive in the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares during the period. Valley National Advisers Inc. grew its position in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. increased its stake in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Performance

Shares of PGR stock opened at $256.66 on Thursday. The firm has a market capitalization of $150.35 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.64 and a beta of 0.42. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $244.86 and its 200-day moving average price is $246.57. The Progressive Co. has a 12 month low of $180.72 and a 12 month high of $270.62.

Progressive (NYSE:PGR) last posted its 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 net margin of 11.25% and a return on equity of 33.79%. Equities research analysts forecast that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 dividend yield of 0.16%. Progressive’s dividend payout ratio is 2.78%.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $2,681,299.09. Following the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at $115,255,231.44. This represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last three months. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PGR. TD Cowen upped their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research report on Thursday, December 26th. Wells Fargo & Company raised their target price on shares of Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Evercore ISI upped their price target on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

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.