The Progressive Co. (NYSE:PGR) Shares Bought by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC raised its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 1,122.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,802 shares of the insurance provider's stock after buying an additional 28,282 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Progressive were worth $7,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Greenleaf Trust lifted its position in Progressive by 0.7% during the fourth quarter. Greenleaf Trust now owns 12,138 shares of the insurance provider's stock valued at $2,908,000 after buying an additional 80 shares in the last quarter. Spire Wealth Management lifted its position in Progressive by 42.3% during the fourth quarter. Spire Wealth Management now owns 11,756 shares of the insurance provider's stock valued at $2,817,000 after buying an additional 3,492 shares in the last quarter. SYM FINANCIAL Corp lifted its position in Progressive by 2.8% during the fourth 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 in the last quarter. DAVENPORT & Co LLC lifted its position in Progressive by 7.1% during the fourth quarter. DAVENPORT & Co LLC now owns 4,935 shares of the insurance provider's stock valued at $1,161,000 after buying an additional 328 shares in the last quarter. Finally, Tritonpoint Wealth LLC lifted its position in Progressive by 12.8% during the fourth quarter. Tritonpoint Wealth LLC now owns 1,705 shares of the insurance provider's stock valued at $409,000 after buying an additional 194 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PGR. Morgan Stanley lifted their price target on shares of Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research report on Friday. StockNews.com raised shares of Progressive from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Jefferies Financial Group boosted their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. TD Cowen boosted their target price on shares of Progressive from $197.00 to $237.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price 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. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Progressive presently has a consensus rating of "Moderate Buy" and an average target price of $275.71.

Insider Activity

In other news, CFO John P. Sauerland sold 10,000 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares of the company's stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares of the company's stock, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by company insiders.

Progressive Stock Performance

PGR stock traded down $2.44 during trading on Friday, hitting $246.78. 3,047,487 shares of the company's stock traded hands, compared to its average volume of 2,415,087. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 52 week low of $176.37 and a 52 week high of $270.62. The stock has a fifty day moving average price of $247.01 and a two-hundred day moving average price of $244.75. The stock has a market capitalization of $144.57 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.41.

Progressive (NYSE:PGR - Get Free Report) last released 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 net margin of 11.25% and a return on equity of 34.32%. As a group, equities analysts anticipate that The Progressive Co. will post 14.03 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive's dividend payout ratio (DPR) is 2.78%.

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.