The Progressive Co. (NYSE:PGR) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC grew its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 831,604 shares of the insurance provider's stock after purchasing an additional 98,508 shares during the period. Corient Private Wealth LLC owned approximately 0.14% of Progressive worth $198,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after buying an additional 41 shares during the period. LRI Investments LLC raised its holdings in shares of Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock valued at $76,000 after buying an additional 42 shares during the period. SYM FINANCIAL Corp raised its holdings in shares of Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock valued at $384,000 after buying an additional 44 shares during the period. Monument Capital Management increased its holdings in Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock worth $3,298,000 after purchasing an additional 44 shares during the period. Finally, Kelleher Financial Advisors increased its holdings in Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider's stock worth $238,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 85.34% of the company's stock.

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Analyst Ratings Changes

A number of research firms have recently commented on PGR. Wells Fargo & Company increased their price objective on Progressive from $313.00 to $317.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods dropped their price objective on Progressive from $295.00 to $294.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. StockNews.com downgraded Progressive from a "buy" rating to a "hold" rating in a report on Friday. UBS Group increased their price objective on Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a report on Friday. Finally, Bank of America decreased their target price on Progressive from $333.00 to $318.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $281.76.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 9,066 shares of Progressive 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 sale, the chief executive officer now directly owns 473,736 shares in the company, valued at $114,691,485.60. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 282,958 shares in the company, valued at approximately $67,530,756.28. This trade 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 65,495 shares of company stock worth $16,668,034 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Progressive Stock Performance

Shares of PGR stock traded down $8.59 during midday trading on Tuesday, hitting $282.64. The company had a trading volume of 3,440,990 shares, compared to its average volume of 2,396,095. The company's 50 day simple moving average is $259.18 and its 200 day simple moving average is $254.36. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $294.22. The stock has a market cap of $165.68 billion, a price-to-earnings ratio of 19.63, a PEG 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.

Progressive (NYSE:PGR - Get Free Report) last announced its earnings results 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 return on equity of 33.79% and a net margin of 11.25%. Research analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Progressive's dividend payout ratio (DPR) is presently 2.78%.

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.