Poinciana Advisors Group LLC purchased a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,373 shares of the insurance provider's stock, valued at approximately $329,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in shares of Progressive by 98.2% in the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider's stock valued at $189,000 after purchasing an additional 391 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider's stock valued at $1,983,000 after acquiring an additional 3,720 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider's stock valued at $1,286,036,000 after acquiring an additional 330,667 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Progressive by 2,262.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider's stock valued at $103,990,000 after acquiring an additional 415,628 shares in the last quarter. Finally, Signal Advisors Wealth LLC raised its position in shares of Progressive by 42.3% during the 4th quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider's stock valued at $2,849,000 after acquiring an additional 3,534 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.
Progressive Stock Up 1.6 %
Progressive stock traded up $4.47 during trading hours on Friday, hitting $283.87. The company had a trading volume of 2,223,359 shares, compared to its average volume of 2,388,837. The firm has a market capitalization of $166.41 billion, a P/E ratio of 19.71, a price-to-earnings-growth 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. The firm's fifty day moving average is $258.14 and its 200-day moving average is $254.07. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $287.49.
Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, research analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.
Progressive Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive's dividend payout ratio (DPR) is 2.78%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on PGR shares. Keefe, Bruyette & Woods lowered their price objective on Progressive from $295.00 to $294.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Bank of America decreased their price target on Progressive from $333.00 to $318.00 and set a "buy" rating for the company in a research note on Monday, March 10th. StockNews.com cut Progressive from a "buy" rating to a "hold" rating in a research note on Friday. HSBC cut Progressive from a "buy" rating to a "hold" rating and set a $267.00 price target for the company. in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price target on Progressive from $313.00 to $317.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Progressive has a consensus rating of "Moderate Buy" and a consensus price target of $281.76.
Get Our Latest Analysis on Progressive
Insider Transactions at Progressive
In related news, insider Andrew J. Quigg sold 681 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares of the company's stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares of the company's stock, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,257 shares of company stock worth $15,752,781 in the last 90 days. 0.34% of the stock is owned by insiders.
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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