Kathmere Capital Management LLC Buys 1,045 Shares of The Progressive Co. (NYSE:PGR)

Kathmere Capital Management LLC lifted its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,168 shares of the insurance provider's stock after buying an additional 1,045 shares during the period. Kathmere Capital Management LLC's holdings in Progressive were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PGR. Davis Capital Management bought a new position in Progressive in the third quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider's stock valued at $35,000 after buying an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Progressive in the second quarter valued at $36,000. Friedenthal Financial bought a new position in shares of Progressive in the third quarter valued at $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Progressive during the third quarter worth $49,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Price Performance

Shares of NYSE PGR traded up $3.10 during midday trading on Thursday, reaching $245.57. The company's stock had a trading volume of 1,897,560 shares, compared to its average volume of 2,601,546. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $143.86 billion, a P/E ratio of 17.85, a P/E/G ratio of 0.61 and a beta of 0.41. The business's 50 day moving average price is $250.72 and its two-hundred day moving average price is $242.01. The Progressive Co. has a fifty-two week low of $166.92 and a fifty-two week high of $270.62.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The firm had revenue of $19.43 billion during the quarter, compared to analysts' expectations of $18.95 billion. On average, analysts forecast that The Progressive Co. will post 13.52 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Friday, January 10th. Progressive's payout ratio is presently 2.91%.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 2,981 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the sale, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. The trade was a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares of the company's stock, valued at approximately $67,530,756.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,919 shares of company stock valued at $8,222,168. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley reissued an "overweight" rating and issued a $310.00 price objective on shares of Progressive in a research report on Friday, December 13th. 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 report on Thursday, December 26th. Hsbc Global Res lowered Progressive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Jefferies Financial Group raised their price objective on Progressive from $257.00 to $295.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their target price on Progressive from $299.00 to $302.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $275.24.

About Progressive

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.