Advisor OS LLC Sells 690 Shares of The Progressive Co. (NYSE:PGR)

Advisor OS LLC trimmed its stake in The Progressive Co. (NYSE:PGR) by 10.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,923 shares of the insurance provider’s stock after selling 690 shares during the period. Advisor OS LLC’s holdings in Progressive were worth $1,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PGR. Webster Bank N. A. acquired a new stake in Progressive during the fourth quarter worth about $26,000. Hager Investment Management Services LLC acquired a new position in Progressive in the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 41 shares during the period. Valley National Advisers Inc. grew its holdings in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in shares of Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 165 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the sale, the chief financial officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the completion of the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock valued at $13,983,575 over the last three months. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PGR shares. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday. TD Cowen increased their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Bank of America lifted their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.59.

Progressive Trading Up 2.2 %

Shares of PGR opened at $278.62 on Wednesday. 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 company has a market cap of $163.22 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.70 and a beta of 0.42. The stock has a fifty day moving average price of $247.97 and a two-hundred day moving average price of $250.14. The Progressive Co. has a 52-week low of $186.94 and a 52-week high of $279.93.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (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%. Analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal 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%.

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.