Oak Harvest Investment Services Has $6.30 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Oak Harvest Investment Services trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,299 shares of the insurance provider’s stock after selling 309 shares during the period. Oak Harvest Investment Services’ holdings in Progressive were worth $6,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Davis Capital Management purchased a new position in Progressive during the third quarter valued at approximately $25,000. Webster Bank N. A. bought a new position in Progressive in the 4th quarter worth $26,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Progressive during the third quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progressive during the 3rd quarter worth approximately $49,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGR has been the topic of several analyst reports. Evercore ISI upped their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Raymond James upgraded 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. Keefe, Bruyette & Woods decreased their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research report on Tuesday, December 10th. Finally, TD Cowen raised their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $275.29.

Progressive Price Performance

Shares of PGR opened at $249.20 on Friday. The company has a market cap of $145.98 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.64 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 company’s fifty day simple moving average is $247.67 and its 200 day simple moving average is $244.27. The Progressive Co. has a 1-year low of $176.37 and a 1-year high of $270.62.

Progressive (NYSE:PGR) last released its quarterly earnings data 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 34.32% and a net margin of 11.25%. On average, research analysts forecast that The Progressive Co. will post 14.03 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s payout ratio is 2.78%.

Insider Activity at Progressive

In other news, insider Andrew J. Quigg sold 962 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $234,044.98. Following the sale, the insider now directly owns 34,787 shares of the company’s stock, valued at approximately $8,463,329.23. This represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,506 shares of company stock worth $13,031,159. Insiders own 0.34% of the company’s stock.

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.