1,641 Shares in The Progressive Co. (NYSE:PGR) Acquired by Advyzon Investment Management LLC

Advyzon Investment Management LLC acquired a new position in The Progressive Co. (NYSE:PGR) in the 4th quarter, Holdings Channel reports. The firm acquired 1,641 shares of the insurance provider’s stock, valued at approximately $393,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Webster Bank N. A. acquired a new position in Progressive during the fourth quarter worth $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Progressive in the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC raised 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 acquiring an additional 41 shares in the last quarter. Valley National Advisers Inc. raised its stake in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. Finally, Independence Bank of Kentucky raised its stake in shares of Progressive by 1,650.0% in the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 165 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive 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 $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the sale, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock worth $13,983,575 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

NYSE PGR opened at $269.71 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 52-week low of $186.94 and a 52-week high of $270.79. The business’s 50-day moving average price is $246.11 and its 200 day moving average price is $248.36. The firm has a market cap of $158.00 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.67 and a beta of 0.42.

Progressive (NYSE:PGR) last announced 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 net margin of 11.25% and a return on equity of 33.79%. On average, equities research analysts expect that The Progressive Co. will post 14.43 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

PGR has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research note on Tuesday, December 10th. Bank of America raised their price target on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI raised their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and a consensus price target of $275.88.

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.