Foundations Investment Advisors LLC Has $657,000 Position in The Progressive Co. (NYSE:PGR)

Foundations Investment Advisors LLC grew its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 227.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,742 shares of the insurance provider's stock after purchasing an additional 1,905 shares during the period. Foundations Investment Advisors LLC's holdings in Progressive were worth $657,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Davis Capital Management acquired a new stake in shares of Progressive during the 3rd quarter valued at about $25,000. Webster Bank N. A. acquired a new position in shares of Progressive during the 4th quarter worth $26,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 73 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Progressive in the second quarter worth $36,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Progressive during the third quarter worth $49,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Price Performance

PGR traded up $2.80 during midday trading on Thursday, reaching $249.20. 2,373,559 shares of the company's stock were exchanged, compared to its average volume of 2,666,949. 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 business has a 50-day simple moving average of $247.67 and a two-hundred day simple moving average of $244.27. The firm has a market capitalization of $145.98 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The Progressive Co. has a one year low of $176.37 and a one year high of $270.62.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, research analysts predict that The Progressive Co. will post 13.51 EPS for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive's dividend payout ratio (DPR) is currently 2.91%.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of analyst reports. TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the company a "hold" rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of Progressive from $257.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their target price on shares of Progressive from $295.00 to $294.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Raymond James upgraded shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price target for the company in a report on Thursday, December 26th. Finally, Morgan Stanley cut their price objective 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 analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Progressive has a consensus rating of "Moderate Buy" and a consensus target price of $275.29.

Insider Activity at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,506 shares of company stock valued at $13,031,159 in the last ninety days. Insiders own 0.34% of the company's stock.

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.