The Progressive Co. (NYSE:PGR) Shares Bought by Savvy Advisors Inc.

Savvy Advisors Inc. grew its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 68.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,926 shares of the insurance provider's stock after acquiring an additional 1,589 shares during the period. Savvy Advisors Inc.'s holdings in Progressive were worth $941,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brogan Financial Inc. purchased a new position in shares of Progressive during the fourth quarter valued at approximately $215,000. Alapocas Investment Partners Inc. purchased a new position in Progressive during the fourth quarter valued at $216,000. Sagespring Wealth Partners LLC purchased a new stake in shares of Progressive in the fourth quarter worth $1,413,000. Optimize Financial Inc purchased a new stake in shares of Progressive during the fourth quarter valued at approximately $322,000. Finally, Townsquare Capital LLC raised its stake in shares of Progressive by 28.6% in the fourth quarter. Townsquare Capital LLC now owns 10,051 shares of the insurance provider's stock worth $2,408,000 after purchasing an additional 2,238 shares during the last quarter. Institutional investors own 85.34% of the company's stock.

Progressive Stock Down 3.5 %

NYSE PGR traded down $9.68 on Friday, hitting $265.45. The stock had a trading volume of 3,648,773 shares, compared to its average volume of 2,642,950. The business's fifty day moving average price is $273.91 and its 200 day moving average price is $257.84. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. The stock has a market cap of $155.62 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.28 by $0.37. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities research analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid 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 dividend payout ratio (DPR) is 2.70%.

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 585 shares of Progressive stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $142,324.65. Following the completion of the transaction, the chief accounting officer now owns 3,983 shares in the company, valued at approximately $969,024.07. This trade represents a 12.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Carl G. Joyce sold 360 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $276.17, for a total value of $99,421.20. Following the sale, the chief accounting officer now directly owns 655 shares in the company, valued at approximately $180,891.35. This trade represents a 35.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,317 shares of company stock worth $14,844,282. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on shares of Progressive from $320.00 to $324.00 and gave the stock an "overweight" rating in a research note on Thursday. Raymond James upgraded Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price objective on the stock in a research report on Thursday, December 26th. Jefferies Financial Group cut their price objective 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, Bank of America upped their target price on Progressive from $289.00 to $297.00 and gave the company a "neutral" rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Progressive has a consensus rating of "Moderate Buy" and an average price target of $285.76.

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.