Inspire Advisors LLC Boosts Holdings in The Progressive Co. (NYSE:PGR)

Inspire Advisors LLC grew its position in The Progressive Co. (NYSE:PGR - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,016 shares of the insurance provider's stock after buying an additional 922 shares during the period. Inspire Advisors LLC's holdings in Progressive were worth $723,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Progressive by 54.7% in 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. LRI Investments LLC grew its stake in shares of Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock valued at $76,000 after buying an additional 42 shares during the period. SYM FINANCIAL Corp grew its stake in shares of Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock valued at $384,000 after buying an additional 44 shares during the period. Monument Capital Management lifted its holdings in shares of Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock worth $3,298,000 after acquiring an additional 44 shares during the last quarter. Finally, Kelleher Financial Advisors lifted its holdings in shares of Progressive by 4.7% in the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider's stock worth $238,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Activity at Progressive

In related news, CIO Jonathan S. Bauer sold 1,227 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $281.00, for a total value of $344,787.00. Following the transaction, the executive now directly owns 28,393 shares of the company's stock, valued at $7,978,433. This trade represents a 4.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Patrick K. Callahan sold 4,669 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $279.70, for a total transaction of $1,305,919.30. Following the completion of the transaction, the insider now directly owns 15,191 shares in the company, valued at $4,248,922.70. This trade represents a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,257 shares of company stock valued at $15,752,781 in the last ninety days. Insiders own 0.34% of the company's stock.

Progressive Price Performance

Shares of PGR opened at $277.33 on Wednesday. The Progressive Co. has a twelve month low of $195.57 and a twelve month high of $287.49. The firm's fifty day simple moving average is $255.77 and its 200-day simple moving average is $253.33. The firm has a market capitalization of $162.57 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.70 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

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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 for the quarter, beating 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 forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

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

Wall Street Analyst Weigh In

PGR has been the topic of several recent analyst reports. StockNews.com upgraded shares of Progressive from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Bank of America decreased their price objective on shares of Progressive from $333.00 to $318.00 and set a "buy" rating on the stock in a report on Monday. Barclays upped their price objective on shares of Progressive from $261.00 to $264.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 18th. Raymond James upgraded shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. Finally, HSBC lowered shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 price objective on the stock. in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $276.59.

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.

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