The Progressive Co. (NYSE:PGR) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 11.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,136 shares of the insurance provider's stock after selling 3,642 shares during the period. Avantax Advisory Services Inc.'s holdings in Progressive were worth $6,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC lifted its position in Progressive by 54.7% during the fourth 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. LRI Investments LLC lifted its position in Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock valued at $76,000 after purchasing an additional 42 shares during the period. SYM FINANCIAL Corp raised its position in shares of Progressive by 2.8% in the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock worth $384,000 after acquiring an additional 44 shares during the period. Monument Capital Management raised its position in shares of Progressive by 0.3% in the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock worth $3,298,000 after acquiring an additional 44 shares during the period. Finally, Kelleher Financial Advisors raised its position in shares of Progressive by 4.7% in the fourth quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider's stock worth $238,000 after acquiring an additional 45 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mariann Wojtkun Marshall sold 191 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 transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,257 shares of company stock worth $15,752,781. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

PGR has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Progressive from $313.00 to $317.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods decreased their price objective on shares of Progressive from $295.00 to $294.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Hsbc Global Res cut shares of Progressive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $281.76.

Progressive Trading Up 1.6 %

Shares of Progressive stock traded up $4.47 during mid-day trading on Friday, hitting $283.87. The stock had a trading volume of 2,223,359 shares, compared to its average volume of 2,388,837. The firm has a 50-day moving average of $258.14 and a two-hundred day moving average of $254.03. The Progressive Co. has a 12-month low of $201.34 and a 12-month high of $287.49. 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 firm has a market cap of $166.41 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly 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 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive's dividend payout ratio is currently 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.