Greykasell Wealth Strategies Inc. Acquires New Position in The Progressive Co. (NYSE:PGR)

Greykasell Wealth Strategies Inc. acquired a new stake in The Progressive Co. (NYSE:PGRFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,343 shares of the insurance provider’s stock, valued at approximately $1,280,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Webster Bank N. A. bought a new stake in shares of Progressive during the fourth quarter worth $26,000. Hager Investment Management Services LLC acquired a new position in shares of Progressive during the fourth quarter worth $28,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Progressive by 54.7% during 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 in the last quarter. Valley National Advisers Inc. increased its holdings 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 in the last quarter. Finally, Atala Financial Inc acquired a new position in shares of Progressive during the fourth quarter worth $32,000. 85.34% of the stock is owned by institutional investors.

Progressive Price Performance

Shares of NYSE PGR opened at $283.87 on Friday. The Progressive Co. has a fifty-two week low of $199.57 and a fifty-two week high of $287.49. The stock has a market cap of $166.41 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The firm’s 50-day simple moving average is $258.14 and its 200 day simple moving average is $253.97.

Progressive (NYSE:PGRGet Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, research analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 11,021 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 owns 473,736 shares of the company’s stock, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,257 shares of company stock worth $15,752,781. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PGR shares. BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Morgan Stanley increased their price objective on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Roth Mkm increased their price objective on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.76.

Check Out Our Latest Analysis on Progressive

Progressive Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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