OneDigital Investment Advisors LLC Grows Stock Holdings in The Progressive Co. (NYSE:PGR)

OneDigital Investment Advisors LLC raised its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,469 shares of the insurance provider's stock after acquiring an additional 2,733 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Progressive were worth $4,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Webster Bank N. A. bought a new stake in Progressive during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive during the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after buying an additional 41 shares during the period. Valley National Advisers Inc. raised its holdings in Progressive by 3,000.0% during 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 period. Finally, Atala Financial Inc purchased a new position in shares of Progressive in the fourth quarter valued at about $32,000. Institutional investors own 85.34% of the company's stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of research reports. Keefe, Bruyette & Woods restated a "market perform" rating and set a $288.00 target price on shares of Progressive in a research report on Thursday, April 17th. JPMorgan Chase & Co. boosted their target price on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Bank of America lifted their price objective on Progressive from $289.00 to $297.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Jefferies Financial Group reduced their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company upped their price target on shares of Progressive from $320.00 to $324.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $285.76.

Progressive Stock Down 0.0 %

Shares of PGR stock traded down $0.08 during trading hours on Friday, reaching $265.11. 1,826,933 shares of the company's stock were exchanged, compared to its average volume of 2,635,436. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99. The stock's 50 day moving average is $274.12 and its 200-day moving average is $258.26. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market cap of $155.42 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The firm had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. 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 was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive's payout ratio is 2.70%.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Carl G. Joyce sold 360 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $276.17, for a total value of $99,421.20. Following the transaction, the chief accounting officer now owns 655 shares in the company, valued at approximately $180,891.35. This trade represents a 35.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lori A. Niederst sold 3,855 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $247.06, for a total transaction of $952,416.30. Following the completion of the sale, the insider now owns 39,040 shares of the company's stock, valued at approximately $9,645,222.40. The trade was a 8.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,749 shares of company stock valued at $11,786,613. Company insiders own 0.33% 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.