The Progressive Co. (NYSE:PGR) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC grew its holdings in shares of The Progressive Co. (NYSE:PGR) by 54.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,371 shares of the insurance provider’s stock after purchasing an additional 832 shares during the period. Proficio Capital Partners LLC’s holdings in Progressive were worth $568,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Atlantic Edge Private Wealth Management LLC boosted its stake 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 valued at $28,000 after buying an additional 41 shares in the last quarter. LRI Investments LLC boosted its position in shares of Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares in the last quarter. SYM FINANCIAL Corp boosted its position in shares of Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 44 shares in the last quarter. Monument Capital Management grew its stake in shares of Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after purchasing an additional 44 shares during the period. Finally, Kelleher Financial Advisors lifted its stake in shares of Progressive by 4.7% in the fourth quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 45 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CIO Jonathan S. Bauer sold 1,696 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $282.66, for a total transaction of $479,391.36. Following the completion of the sale, the executive now owns 26,697 shares in the company, valued at approximately $7,546,174.02. The trade was a 5.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,495 shares of company stock valued at $16,668,034 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PGR shares. Morgan Stanley lifted their price target on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. UBS Group boosted their target price on Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their price target on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Finally, Bank of America decreased their price objective on shares of Progressive from $318.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $281.06.

Progressive Stock Performance

Shares of PGR opened at $273.08 on Monday. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The company’s 50 day simple moving average is $261.96 and its 200 day simple moving average is $255.01. The company has a market capitalization of $160.08 billion, a price-to-earnings ratio of 18.96, 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.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping 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, sell-side analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s payout ratio is 2.78%.

About Progressive

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.