2,686 Shares in The Progressive Co. (NYSE:PGR) Purchased by Retireful LLC

Retireful LLC purchased a new stake in shares of The Progressive Co. (NYSE:PGR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,686 shares of the insurance provider's stock, valued at approximately $644,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in shares of Progressive during the 3rd quarter valued at $25,000. DiNuzzo Private Wealth Inc. grew its stake 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 worth $35,000 after buying an additional 73 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Progressive during the second quarter valued at $36,000. Friedenthal Financial bought a new stake in Progressive in the third quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Progressive in the third quarter worth $49,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Performance

Shares of NYSE PGR traded down $1.75 during midday trading on Friday, hitting $243.79. 1,967,879 shares of the company's stock traded hands, compared to its average volume of 2,543,944. The firm has a fifty day moving average of $250.53 and a 200 day moving average of $242.03. The Progressive Co. has a 1 year low of $166.92 and a 1 year high of $270.62. 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 stock has a market capitalization of $142.82 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41.

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

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive's dividend payout ratio is currently 2.91%.

Insider Activity at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm'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 transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares of the company's stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,919 shares of company stock worth $8,222,168. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Hsbc Global Res lowered Progressive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. HSBC cut shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. StockNews.com upgraded shares of Progressive from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Barclays decreased their price objective on shares of Progressive from $277.00 to $261.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets cut their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $275.24.

Progressive Company 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.