Gallacher Capital Management LLC Grows Holdings in The Progressive Co. (NYSE:PGR)

Gallacher Capital Management LLC grew its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 84.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,954 shares of the insurance provider's stock after buying an additional 892 shares during the period. Gallacher Capital Management LLC's holdings in Progressive were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PGR. Webster Bank N. A. purchased a new position in Progressive during the fourth quarter worth about $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Progressive during the 4th quarter worth approximately $28,000. Atlantic Edge Private Wealth Management LLC raised its position in shares of Progressive by 54.7% during the 4th 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. lifted its holdings in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 120 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in Progressive during the fourth quarter worth $32,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent analyst reports. BMO Capital Markets decreased their price target on Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Keefe, Bruyette & Woods decreased their target price on shares of Progressive from $295.00 to $294.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a research report on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of Progressive from $313.00 to $317.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, StockNews.com downgraded shares of Progressive from a "buy" rating to a "hold" rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $281.76.

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Insider Buying and Selling at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the sale, the chief financial officer now owns 282,958 shares in the company, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,495 shares of company stock worth $16,668,034 over the last three months. Insiders own 0.34% of the company's stock.

Progressive Stock Down 2.9 %

Shares of NYSE:PGR traded down $8.59 during trading hours on Tuesday, reaching $282.64. The stock had a trading volume of 3,440,990 shares, compared to its average volume of 2,396,095. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $294.22. The firm's 50 day moving average is $259.18 and its 200-day moving average is $254.36. The stock has a market capitalization of $165.68 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.70 and a beta of 0.35. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Research analysts predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive's dividend payout ratio (DPR) is 2.78%.

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.