Coign Capital Advisors LLC Purchases Shares of 2,543 The Progressive Co. (NYSE:PGR)

Coign Capital Advisors LLC acquired a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,543 shares of the insurance provider's stock, valued at approximately $609,000.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider's stock worth $12,795,262,000 after buying an additional 583,376 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Progressive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider's stock valued at $3,498,363,000 after buying an additional 189,638 shares during the period. Norges Bank acquired a new stake in shares of Progressive in the 4th quarter valued at about $1,843,045,000. Invesco Ltd. grew its holdings in shares of Progressive by 2.9% during the fourth quarter. Invesco Ltd. now owns 5,521,545 shares of the insurance provider's stock worth $1,323,018,000 after buying an additional 153,044 shares in the last quarter. Finally, GQG Partners LLC boosted its position in Progressive by 67.6% during the 4th quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider's stock worth $1,239,143,000 after acquiring an additional 2,085,833 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of analyst reports. Morgan Stanley raised their target price 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. Raymond James upgraded Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price target for the company in a research note on Thursday, December 26th. Bank of America downgraded Progressive from a "buy" rating to a "neutral" rating and cut their price objective for the company from $300.00 to $287.00 in a report on Friday, April 4th. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company raised their target price on shares of Progressive from $317.00 to $320.00 and gave the company an "overweight" rating in a research note on Thursday, April 10th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $283.71.

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Progressive Price Performance

Shares of PGR stock traded up $0.01 during trading on Wednesday, hitting $276.12. The company had a trading volume of 1,563,254 shares, compared to its average volume of 3,151,483. The stock's 50-day moving average price is $272.94 and its 200 day moving average price is $257.55. The firm has a market capitalization of $161.87 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. 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 one year low of $201.34 and a one year high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive's dividend payout ratio (DPR) is currently 2.78%.

Insiders Place Their Bets

In other news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $275.94, for a total value of $2,759,400.00. Following the completion of the transaction, the chief financial officer now directly owns 258,024 shares of the company's stock, valued at approximately $71,199,142.56. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew J. Quigg sold 962 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $234,044.98. Following the completion of the transaction, the insider now directly owns 34,787 shares in the company, valued at approximately $8,463,329.23. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $14,844,282 in the last ninety days. 0.34% of the stock is currently 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.