Apollon Wealth Management LLC Has $3.42 Million Stock Position in The Progressive Co. (NYSE:PGR)

Apollon Wealth Management LLC lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,252 shares of the insurance provider’s stock after purchasing an additional 909 shares during the period. Apollon Wealth Management LLC’s holdings in Progressive were worth $3,415,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after buying an additional 1,682,213 shares during the period. Jennison Associates LLC lifted its stake in shares of Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after purchasing an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Progressive by 75.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after purchasing an additional 641,943 shares during the period. International Assets Investment Management LLC increased its holdings in Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after purchasing an additional 594,330 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Progressive by 102.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,024,992 shares of the insurance provider’s stock valued at $260,102,000 after buying an additional 518,262 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PGR. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research note on Thursday, December 26th. Morgan Stanley increased their price target on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and a consensus price target of $275.71.

Insider Activity at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lori A. Niederst sold 3,855 shares of the business’s 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 of the company’s stock, valued at approximately $9,645,222.40. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,361 shares of company stock worth $13,983,575. Company insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.3 %

Shares of NYSE:PGR opened at $250.64 on Friday. The company has a market capitalization of $146.83 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The Progressive Co. has a 1 year low of $180.72 and a 1 year high of $270.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The business has a fifty day moving average price of $245.24 and a two-hundred day moving average price of $245.60.

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

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid 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 0.16%. Progressive’s payout ratio is presently 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.