The Progressive Co. (NYSE:PGR) Shares Sold by Left Brain Wealth Management LLC

Left Brain Wealth Management LLC reduced its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,084 shares of the insurance provider’s stock after selling 262 shares during the period. Left Brain Wealth Management LLC’s holdings in Progressive were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PGR. Webster Bank N. A. acquired a new position in shares of Progressive during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new position in Progressive during the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after buying an additional 41 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Progressive during the fourth quarter worth $32,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Progressive news, CIO Jonathan S. Bauer sold 1,227 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $281.00, for a total transaction of $344,787.00. Following the completion of the sale, the executive now directly owns 28,393 shares in the company, valued at approximately $7,978,433. The trade was a 4.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of the company’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 sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,257 shares of company stock worth $15,752,781 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets cut their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Roth Mkm upped their target price on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company raised their target price on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Barclays raised their target price on shares of Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Morgan Stanley raised their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.82.

Progressive Stock Up 0.7 %

Progressive stock opened at $279.54 on Friday. The stock has a market capitalization of $163.87 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 12 month low of $199.54 and a 12 month high of $287.49. The business has a 50 day simple moving average of $257.30 and a 200-day simple moving average of $253.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

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.