KFG Wealth Management LLC Buys 186 Shares of The Progressive Co. (NYSE:PGR)

KFG Wealth Management LLC raised its stake in The Progressive Co. (NYSE:PGR) by 16.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,289 shares of the insurance provider’s stock after purchasing an additional 186 shares during the quarter. KFG Wealth Management LLC’s holdings in Progressive were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Davis Capital Management bought a new stake in Progressive during the 3rd quarter valued at $25,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Progressive during the second quarter worth about $36,000. Friedenthal Financial bought a new stake in shares of Progressive in the third quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progressive in the third quarter worth about $49,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at approximately $67,530,756.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 962 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $234,044.98. Following the completion of the transaction, the insider now owns 34,787 shares of the company’s stock, valued at $8,463,329.23. This represents a 2.69 % decrease in their position. 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. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research analyst reports. Evercore ISI increased their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Bank of America upped their target price on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. BMO Capital Markets cut their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a research report on Thursday, December 26th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $274.65.

Progressive Stock Performance

Progressive stock opened at $238.58 on Friday. The stock’s 50 day moving average is $248.27 and its 200 day moving average is $243.31. The company has a market capitalization of $139.76 billion, a P/E ratio of 17.34, a PEG ratio of 0.62 and a beta of 0.41. The Progressive Co. has a twelve month low of $175.50 and a twelve month high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

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. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s payout ratio is presently 2.91%.

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.