BankPlus Wealth Management LLC Takes Position in The Progressive Co. (NYSE:PGR)

BankPlus Wealth Management LLC acquired a new stake in The Progressive Co. (NYSE:PGR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,788 shares of the insurance provider's stock, valued at approximately $908,000. Progressive accounts for 0.7% of BankPlus Wealth Management LLC's investment portfolio, making the stock its 24th largest position.

Other large investors have also bought and sold shares of the company. Davis Capital Management bought a new position in Progressive in the 3rd quarter valued at about $25,000. Webster Bank N. A. bought a new position in shares of Progressive during the fourth quarter valued at about $26,000. DiNuzzo Private Wealth Inc. boosted its holdings in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider's stock worth $35,000 after purchasing an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Progressive in the 2nd quarter worth about $36,000. Finally, Friedenthal Financial bought a new position in shares of Progressive during the 3rd quarter worth approximately $49,000. 85.34% of the stock is owned by institutional investors.

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares of the company's stock, valued at approximately $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the transaction, the chief executive officer now owns 473,736 shares of the company's stock, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,506 shares of company stock valued at $10,531,159. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Progressive from $299.00 to $302.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. JPMorgan Chase & Co. increased their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a research note on Friday, January 3rd. Bank of America boosted their price target on shares of Progressive from $331.00 to $335.00 and gave the company a "buy" rating in a research report on Monday, November 18th. TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Finally, Morgan Stanley reduced their target price on Progressive from $310.00 to $300.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $274.65.

Progressive Trading Down 0.8 %

Shares of PGR traded down $2.05 during mid-day trading on Tuesday, hitting $244.86. 2,723,871 shares of the company's stock traded hands, compared to its average volume of 2,631,509. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $143.44 billion, a P/E ratio of 17.80, a PEG ratio of 0.62 and a beta of 0.41. The business's 50-day moving average price is $248.08 and its 200-day moving average price is $244.03. The Progressive Co. has a 1 year low of $175.50 and a 1 year high of $270.62.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive's dividend payout ratio is 2.91%.

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.