The Progressive Co. (NYSE:PGR) Stock Holdings Raised by Capital Planning Advisors LLC

Capital Planning Advisors LLC increased its position in The Progressive Co. (NYSE:PGR) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,829 shares of the insurance provider’s stock after purchasing an additional 507 shares during the period. Progressive accounts for about 1.2% of Capital Planning Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Capital Planning Advisors LLC’s holdings in Progressive were worth $7,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evergreen Capital Management LLC lifted its position in shares of Progressive by 8.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,988 shares of the insurance provider’s stock worth $1,036,000 after buying an additional 385 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Progressive by 60.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 112,179 shares of the insurance provider’s stock worth $23,301,000 after acquiring an additional 42,094 shares during the period. Insigneo Advisory Services LLC lifted its holdings in Progressive by 22.5% in the second quarter. Insigneo Advisory Services LLC now owns 6,636 shares of the insurance provider’s stock worth $1,400,000 after acquiring an additional 1,218 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its stake in Progressive by 75.3% in the second quarter. Zurich Insurance Group Ltd FI now owns 547,512 shares of the insurance provider’s stock valued at $113,724,000 after acquiring an additional 235,269 shares during the period. Finally, Point72 Europe London LLP bought a new position in shares of Progressive during the second quarter valued at approximately $6,481,000. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

Shares of PGR stock opened at $239.13 on Thursday. The company has a market capitalization of $140.08 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.63 and a beta of 0.41. The Progressive Co. has a 1-year low of $169.57 and a 1-year high of $270.62. 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 stock’s fifty day simple moving average is $248.98 and its 200-day simple moving average is $243.14.

Progressive Dividend Announcement

The business 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 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.91%.

Insider Activity at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were 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 of the company’s stock, valued at $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. Over the last 90 days, insiders sold 29,938 shares of company stock valued at $7,473,490. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a report on Tuesday, December 10th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company raised their target price on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research report on Thursday, December 26th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $274.65.

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.