The Progressive Co. (NYSE:PGR) Shares Acquired by Everhart Financial Group Inc.

Everhart Financial Group Inc. raised its stake in The Progressive Co. (NYSE:PGR) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,546 shares of the insurance provider’s stock after acquiring an additional 217 shares during the period. Everhart Financial Group Inc.’s holdings in Progressive were worth $850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PGR. Webster Bank N. A. acquired a new position in Progressive in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new position in Progressive in the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the period. Valley National Advisers Inc. boosted its stake in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 120 shares during the period. Finally, Independence Bank of Kentucky boosted its stake in Progressive by 1,650.0% in the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 165 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In other Progressive news, insider Lori A. Niederst sold 3,855 shares of Progressive stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total transaction of $952,416.30. Following the transaction, the insider now directly owns 39,040 shares in the company, valued at approximately $9,645,222.40. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,361 shares of company stock valued at $13,983,575. Corporate insiders own 0.34% of the company’s stock.

Progressive Price Performance

NYSE PGR opened at $262.71 on Friday. The stock has a market capitalization of $153.90 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.42. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $270.62. The business’s fifty day moving average is $244.97 and its two-hundred day moving average is $247.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, research analysts forecast that The Progressive Co. will post 14.44 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive’s dividend payout ratio is currently 2.78%.

Analysts Set New Price Targets

A number of brokerages have commented on PGR. Evercore ISI lifted their target price on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. HSBC cut 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. BMO Capital Markets cut their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company lifted their price target on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, TD Cowen lifted their price target on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.71.

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.