Corient Private Wealth LLC Has $198.78 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Corient Private Wealth LLC boosted 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 disclosure with the SEC. The fund owned 831,604 shares of the insurance provider's stock after buying an additional 98,508 shares during the quarter. Corient Private Wealth LLC owned 0.14% of Progressive worth $198,780,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PGR. Webster Bank N. A. acquired a new position in shares of Progressive in the fourth quarter worth about $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive in the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after purchasing an additional 41 shares during the period. Valley National Advisers Inc. grew its position 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 acquired a new stake in Progressive during the 4th quarter valued at $32,000. Institutional investors own 85.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PGR shares. Keefe, Bruyette & Woods lowered their price target on Progressive from $295.00 to $294.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. HSBC cut Progressive from a "buy" rating to a "hold" rating and set a $267.00 target price on the stock. in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price target on shares of Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. BMO Capital Markets lowered their price objective on shares of Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of Progressive from a "buy" rating to a "hold" rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Progressive has a consensus rating of "Moderate Buy" and a consensus price target of $281.76.

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Insiders Place Their Bets

In related news, CIO Jonathan S. Bauer sold 1,227 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $281.00, for a total transaction of $344,787.00. Following the completion of the transaction, the executive now owns 28,393 shares of the company's stock, valued at approximately $7,978,433. The trade was a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the sale, the insider now owns 33,612 shares of the company's stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,257 shares of company stock valued at $15,752,781 in the last quarter. Insiders own 0.34% of the company's stock.

Progressive Stock Performance

Shares of PGR stock traded up $8.00 during trading on Monday, reaching $291.69. The company had a trading volume of 3,454,385 shares, compared to its average volume of 2,379,282. The firm's 50 day simple moving average is $259.18 and its two-hundred day simple moving average is $254.36. The Progressive Co. has a one year low of $201.34 and a one year high of $291.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The company has a market capitalization of $170.99 billion, a PE ratio of 20.26, a PEG ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Sell-side analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

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

About Progressive

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.