The Progressive Co. (NYSE:PGR) Shares Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC raised its position in The Progressive Co. (NYSE:PGR) by 12.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,840 shares of the insurance provider’s stock after acquiring an additional 323 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Progressive were worth $681,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PGR. RFG Advisory LLC increased its stake in shares of Progressive by 9.9% during the fourth quarter. RFG Advisory LLC now owns 14,007 shares of the insurance provider’s stock worth $3,356,000 after acquiring an additional 1,264 shares during the period. Brighton Jones LLC raised its stake in shares of Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares in the last quarter. Secure Asset Management LLC raised its stake in shares of Progressive by 26.7% during the 4th quarter. Secure Asset Management LLC now owns 2,404 shares of the insurance provider’s stock worth $576,000 after buying an additional 506 shares in the last quarter. Verde Capital Management acquired a new position in Progressive during the fourth quarter worth $1,198,000. Finally, Capital Planning Advisors LLC raised its position in Progressive by 1.6% in the fourth quarter. Capital Planning Advisors LLC now owns 32,829 shares of the insurance provider’s stock worth $7,866,000 after acquiring an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 0.2 %

Shares of NYSE PGR opened at $239.58 on Friday. The stock has a market capitalization of $140.35 billion, a P/E ratio of 17.41, a PEG ratio of 0.62 and a beta of 0.41. The stock’s 50 day moving average price is $248.98 and its two-hundred day moving average price is $243.14. 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 $175.50 and a 52-week high of $270.62.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.10 dividend. 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 0.17%. Progressive’s payout ratio is currently 2.91%.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company’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 value of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,506 shares of company stock valued at $10,531,159 in the last quarter. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a report on Tuesday, December 10th. 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. Evercore ISI boosted their price objective on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley dropped their price objective on shares of Progressive from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $274.65.

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.