The Progressive Co. (NYSE:PGR) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its position in shares of The Progressive Co. (NYSE:PGR) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 17,741 shares of the insurance provider’s stock after acquiring an additional 149 shares during the quarter. D.A. Davidson & CO.’s holdings in Progressive were worth $4,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Webster Bank N. A. purchased a new position in shares of Progressive during the 4th quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive during the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares during the last quarter. Finally, Independence Bank of Kentucky raised its stake in shares of Progressive by 1,650.0% during the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. The trade was a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, 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 have sold a total of 56,361 shares of company stock worth $13,983,575 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the subject of a number of recent research reports. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research note on Tuesday, December 10th. Bank of America lifted their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Morgan Stanley lifted their price target on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and a consensus target price of $276.12.

Progressive Price Performance

NYSE:PGR opened at $267.83 on Friday. The Progressive Co. has a 12 month low of $186.94 and a 12 month high of $270.79. The stock has a 50 day moving average of $246.61 and a two-hundred day moving average of $248.49. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market cap of $156.90 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 0.67 and a beta of 0.42.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping 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, analysts expect that The Progressive Co. will post 14.43 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced 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 0.15%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.78%.

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.