The Progressive Co. (NYSE:PGR) Stake Boosted by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC lifted its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 42.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,889 shares of the insurance provider's stock after purchasing an additional 3,534 shares during the period. Signal Advisors Wealth LLC's holdings in Progressive were worth $2,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Davis Capital Management acquired a new position in shares of Progressive in the 3rd quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 73 shares in the last quarter. Kimelman & Baird LLC bought a new position in Progressive during the 2nd quarter valued at $36,000. Friedenthal Financial acquired a new position in Progressive during the 3rd quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progressive in the 3rd quarter worth about $49,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research analyst reports. Jefferies Financial Group boosted their price objective on Progressive from $257.00 to $295.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Progressive from $299.00 to $302.00 and gave the company an "overweight" rating in a report on Monday, December 16th. StockNews.com upgraded Progressive from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. HSBC lowered shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 target price for the company. in a research note on Tuesday, December 10th. Finally, Roth Mkm lifted their target price on Progressive from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $275.24.

Insider Buying and Selling

In other news, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the transaction, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,919 shares of company stock worth $8,222,168 in the last three months. 0.34% of the stock is currently owned by insiders.

Progressive Price Performance

PGR traded up $3.79 during trading on Tuesday, reaching $239.57. The stock had a trading volume of 2,256,733 shares, compared to its average volume of 2,567,313. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62. The firm has a market capitalization of $140.34 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The stock has a 50 day moving average of $251.06 and a two-hundred day moving average of $242.00. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.18. The business had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. As a group, equities analysts anticipate that The Progressive Co. will post 13.2 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive's dividend payout ratio is presently 2.91%.

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.