Petros Family Wealth LLC Acquires Shares of 1,661 The Progressive Co. (NYSE:PGR)

Petros Family Wealth LLC purchased a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,661 shares of the insurance provider's stock, valued at approximately $398,000.

Several other large investors have also made changes to their positions in the company. Webster Bank N. A. acquired a new stake in shares of Progressive in the 4th quarter valued at $26,000. Hager Investment Management Services LLC acquired a new stake in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Progressive by 54.7% in the fourth 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 in the last quarter. Valley National Advisers Inc. grew its position 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 position in Progressive during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Insider Activity at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, March 28th. The stock was sold at an average price of $275.94, for a total transaction of $2,759,400.00. Following the sale, the chief financial officer now directly owns 258,024 shares in the company, valued at $71,199,142.56. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares of the company's stock, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $14,844,282 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PGR shares. Barclays upped their price objective on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Friday. Bank of America downgraded shares of Progressive from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $300.00 to $287.00 in a report on Friday, April 4th. JPMorgan Chase & Co. raised their price objective on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Raymond James raised Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 target price for the company in a report on Thursday, December 26th. Finally, Morgan Stanley lifted their price target on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $283.71.

Progressive Stock Down 0.9 %

Shares of NYSE PGR traded down $2.60 during mid-day trading on Tuesday, reaching $275.96. 2,368,535 shares of the company's stock traded hands, compared to its average volume of 2,639,868. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The business has a 50-day simple moving average of $272.44 and a 200 day simple moving average of $257.43. The stock has a market cap of $161.78 billion, a P/E ratio of 19.16, a PEG ratio of 1.70 and a beta of 0.38. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive's dividend payout ratio is currently 2.78%.

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.