Compass Capital Corp MA ADV purchased a new stake in The Progressive Co. (NYSE:PGR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,030 shares of the insurance provider's stock, valued at approximately $490,000.
Several other large investors have also added to or reduced their stakes in the stock. Raleigh Capital Management Inc. boosted its holdings in Progressive by 20.9% in the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider's stock valued at $60,000 after acquiring an additional 41 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 41 shares in the last quarter. LRI Investments LLC boosted its holdings in Progressive by 16.5% in the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock valued at $76,000 after acquiring an additional 42 shares in the last quarter. SYM FINANCIAL Corp boosted its holdings in Progressive by 2.8% in the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock valued at $384,000 after acquiring an additional 44 shares in the last quarter. Finally, Monument Capital Management boosted its holdings in Progressive by 0.3% in the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock valued at $3,298,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 85.34% of the company's stock.
Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Progressive from $313.00 to $317.00 and gave the company an "overweight" rating in a report on Thursday. StockNews.com upgraded shares of Progressive from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Barclays raised their price objective on Progressive from $261.00 to $264.00 and gave the company an "equal weight" rating in a research report on Tuesday. Raymond James raised Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price objective for the company in a research report on Thursday, December 26th. Finally, Bank of America raised their price objective on Progressive from $331.00 to $335.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $276.12.
View Our Latest Analysis on PGR
In other Progressive news, insider Lori A. Niederst sold 3,855 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the transaction, the insider now directly owns 39,040 shares in the company, valued at $9,645,222.40. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 292,958 shares of the company's stock, valued at approximately $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is owned by corporate insiders.
Progressive stock opened at $267.83 on Friday. The business has a 50-day simple moving average of $246.61 and a two-hundred day simple moving average of $248.49. The company has a market cap of $156.90 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.68 and a beta of 0.42. The Progressive Co. has a 52-week low of $186.94 and a 52-week high of $270.79. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.
Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Analysts predict that The Progressive Co. will post 14.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) is presently 2.78%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Progressive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Progressive wasn't on the list.
While Progressive currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.