CFO4Life Group LLC Sells 160 Shares of The Progressive Co. (NYSE:PGR)

CFO4Life Group LLC lowered its holdings in The Progressive Co. (NYSE:PGR) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,545 shares of the insurance provider’s stock after selling 160 shares during the period. CFO4Life Group LLC’s holdings in Progressive were worth $849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Versor Investments LP increased its holdings in Progressive by 200.5% during the 3rd quarter. Versor Investments LP now owns 3,005 shares of the insurance provider’s stock worth $763,000 after acquiring an additional 2,005 shares during the period. Apollon Wealth Management LLC increased its holdings in Progressive by 11.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,343 shares of the insurance provider’s stock worth $3,386,000 after acquiring an additional 1,422 shares during the period. Baillie Gifford & Co. increased its holdings in Progressive by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 77,756 shares of the insurance provider’s stock worth $19,731,000 after acquiring an additional 700 shares during the period. Rakuten Securities Inc. increased its holdings in Progressive by 642.0% during the 3rd quarter. Rakuten Securities Inc. now owns 371 shares of the insurance provider’s stock worth $94,000 after acquiring an additional 321 shares during the period. Finally, Savvy Advisors Inc. bought a new stake in Progressive during the 3rd quarter worth approximately $593,000. 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 stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This represents a 4.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,257 shares of company stock valued at $15,752,781 in the last quarter. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of Progressive stock opened at $277.52 on Thursday. The Progressive Co. has a 52-week low of $197.77 and a 52-week high of $287.49. The stock has a market capitalization of $162.69 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The company has a fifty day moving average of $256.53 and a 200-day moving average of $253.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

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

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

PGR has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a report on Tuesday, December 10th. Bank of America decreased their price target on shares of Progressive from $333.00 to $318.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.59.

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.