Jones Financial Companies Lllp Purchases 7,032 Shares of The Progressive Co. (NYSE:PGR)

Jones Financial Companies Lllp raised its position in The Progressive Co. (NYSE:PGR) by 45.5% during the 4th quarter, HoldingsChannel reports. The fund owned 22,494 shares of the insurance provider’s stock after buying an additional 7,032 shares during the quarter. Jones Financial Companies Lllp’s holdings in Progressive were worth $5,390,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC lifted its stake in Progressive by 54.7% in the 4th 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 in the last quarter. LRI Investments LLC lifted its stake in Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares in the last quarter. SYM FINANCIAL Corp lifted its stake in Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 44 shares in the last quarter. Monument Capital Management lifted its stake in Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after acquiring an additional 44 shares in the last quarter. Finally, Washington Trust Bank lifted its stake in Progressive by 4.6% in the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock valued at $260,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of NYSE PGR opened at $283.09 on Wednesday. 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 stock’s fifty day moving average price is $251.93 and its two-hundred day moving average price is $251.90. The Progressive Co. has a one year low of $189.40 and a one year high of $287.49. The firm has a market cap of $165.83 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.70 and a beta of 0.42.

Progressive (NYSE:PGR) last issued 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, equities analysts forecast that The Progressive Co. will post 14.68 EPS for the current 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 given a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Progressive’s payout ratio is 2.78%.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $279.94, for a total value of $2,799,400.00. Following the sale, the chief financial officer now owns 269,566 shares of the company’s stock, valued at approximately $75,462,306.04. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,361 shares of company stock worth $14,102,075. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PGR. TD Cowen boosted their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research report on Tuesday, December 10th. Barclays boosted their price target on Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price target on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $277.59.

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.