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Poinciana Advisors Group LLC Invests $329,000 in The Progressive Co. (NYSE:PGR)

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Poinciana Advisors Group LLC acquired a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,373 shares of the insurance provider's stock, valued at approximately $329,000.

Several other large investors have also modified their holdings of the stock. Webster Bank N. A. acquired a new stake in shares of Progressive in the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive during the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Progressive by 54.7% during 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 holdings in shares of 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 buying an additional 120 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Progressive during the fourth quarter valued at $32,000. 85.34% of the stock is owned by institutional investors.

Progressive Price Performance

Shares of NYSE:PGR opened at $283.87 on Friday. The Progressive Co. has a fifty-two week low of $199.57 and a fifty-two week high of $287.49. The business has a 50-day moving average of $258.14 and a two-hundred day moving average of $253.97. The stock has a market capitalization of $166.41 billion, a P/E ratio of 19.71, 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 current ratio of 0.31 and a quick ratio of 0.30.

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Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive's dividend payout ratio is presently 2.78%.

Analysts Set New Price Targets

PGR has been the topic of a number of research analyst reports. StockNews.com downgraded Progressive from a "buy" rating to a "hold" rating in a report on Friday. Barclays lifted their price target on Progressive from $264.00 to $285.00 and gave the company an "equal weight" rating in a report on Thursday. Hsbc Global Res downgraded Progressive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, UBS Group boosted their target price on Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $281.76.

Read Our Latest Report on PGR

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was 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 of the company's stock, valued at $964,042.20. This represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew J. Quigg sold 681 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares of the company's stock, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,257 shares of company stock valued at $15,752,781. Insiders own 0.34% of the company's stock.

About Progressive

(Free Report)

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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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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