HUB Investment Partners LLC Purchases 1,370 Shares of The Progressive Co. (NYSE:PGR)

HUB Investment Partners LLC grew its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 156.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,245 shares of the insurance provider's stock after buying an additional 1,370 shares during the period. HUB Investment Partners LLC's holdings in Progressive were worth $538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Webster Bank N. A. purchased a new position in Progressive in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive in the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 41 shares during the period. Valley National Advisers Inc. lifted its holdings in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock worth $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Atala Financial Inc bought a new position in Progressive in the 4th quarter worth about $32,000. Institutional investors own 85.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Progressive from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, March 20th. Roth Mkm raised their price target on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Bank of America decreased their price target on shares of Progressive from $318.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Raymond James raised Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. Finally, Morgan Stanley upped their target price on Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $281.06.

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Progressive Trading Up 0.2 %

Shares of PGR traded up $0.57 during trading hours on Tuesday, hitting $274.57. The company had a trading volume of 2,911,344 shares, compared to its average volume of 2,428,583. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The stock's 50 day moving average price is $263.42 and its 200 day moving average price is $255.37. The firm has a market cap of $160.96 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.70 and a beta of 0.35.

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

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 yield of 0.15%. Progressive's payout ratio is currently 2.78%.

Insider Buying and Selling at Progressive

In related news, insider Andrew J. Quigg sold 681 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of the 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 $2,194,878.60. Following the completion of the sale, the chief executive officer now owns 473,736 shares of the company's stock, valued at approximately $114,691,485.60. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,855 shares of company stock worth $16,767,455. 0.34% of the stock is currently owned by company insiders.

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.