Wilkinson Global Asset Management LLC Sells 1,506 Shares of The Progressive Co. (NYSE:PGR)

Wilkinson Global Asset Management LLC lowered its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,576 shares of the insurance provider's stock after selling 1,506 shares during the period. Progressive makes up 2.3% of Wilkinson Global Asset Management LLC's portfolio, making the stock its 20th biggest position. Wilkinson Global Asset Management LLC's holdings in Progressive were worth $37,757,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Raleigh Capital Management Inc. increased its holdings in shares of Progressive by 20.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider's stock worth $60,000 after acquiring an additional 41 shares during the period. Atlantic Edge Private Wealth Management LLC increased its stake in 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 buying an additional 41 shares during the period. LRI Investments LLC increased its stake in Progressive by 16.5% during 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 increased its stake in Progressive by 2.8% during 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. Finally, Monument Capital Management increased its stake in Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock valued at $3,298,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PGR. Raymond James raised shares of Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 target price on the stock in a research note on Thursday, December 26th. Barclays raised their target price on shares of Progressive from $261.00 to $264.00 and gave the company an "equal weight" rating in a research note on Tuesday. TD Cowen raised their target price on shares of Progressive from $197.00 to $237.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Morgan Stanley raised their target price on shares of Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Progressive from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $276.12.

Progressive Trading Down 0.6 %

Shares of PGR traded down $1.68 during midday trading on Friday, hitting $265.99. The stock had a trading volume of 2,567,348 shares, compared to its average volume of 2,505,890. The Progressive Co. has a fifty-two week low of $186.94 and a fifty-two week high of $270.79. The business has a 50-day simple moving average of $246.89 and a two-hundred day simple moving average of $248.87. The firm has a market cap of $155.82 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.42. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping 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%. As a group, equities analysts forecast that The Progressive Co. will post 14.5 EPS for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 0.15%. The ex-dividend date was Friday, January 10th. Progressive's dividend payout ratio is currently 2.78%.

Insider Buying and Selling

In related news, CEO Susan Patricia Griffith sold 9,066 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the sale, the chief financial officer now owns 292,958 shares of the company's stock, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is owned by company insiders.

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.