The Progressive Co. (NYSE:PGR) Position Increased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC lifted its holdings in The Progressive Co. (NYSE:PGR) by 11.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,677 shares of the insurance provider’s stock after buying an additional 178 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Progressive were worth $402,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PGR. State Street Corp raised its stake in Progressive by 1.3% during the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock worth $6,263,763,000 after acquiring an additional 315,411 shares during the period. Geode Capital Management LLC grew its holdings in shares of Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after purchasing an additional 1,682,213 shares during the last quarter. FMR LLC raised its position in shares of Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock worth $2,669,204,000 after purchasing an additional 170,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Progressive by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after purchasing an additional 330,667 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Progressive by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after purchasing an additional 92,212 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Performance

NYSE:PGR opened at $243.79 on Friday. The company has a 50-day moving average of $250.18 and a 200-day moving average of $242.27. The firm has a market cap of $142.82 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a twelve month low of $166.92 and a twelve month high of $270.62.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is 2.91%.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares in the company, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Andrew J. Quigg sold 681 shares of the business’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 $164,870.10. Following the sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,919 shares of company stock valued at $8,222,168. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PGR. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Barclays decreased their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Progressive in a research note on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.24.

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.