Corient Private Wealth LLC Increases Stock Position in The Progressive Co. (NYSE:PGR)

Corient Private Wealth LLC grew its stake in shares of The Progressive Co. (NYSE:PGR) by 13.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 831,604 shares of the insurance provider’s stock after buying an additional 98,508 shares during the period. Corient Private Wealth LLC’s holdings in Progressive were worth $198,780,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. purchased a new stake in shares of Progressive during the 4th quarter valued at $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive during the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC boosted its position in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares during the period. Valley National Advisers Inc. boosted its position in 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 during the period. Finally, Atala Financial Inc purchased a new stake in Progressive during the 4th quarter worth $32,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,257 shares of company stock worth $15,752,781 over the last quarter. 0.34% of the stock is owned by company insiders.

Progressive Stock Performance

Shares of Progressive stock opened at $283.87 on Friday. The firm has a market cap of $166.41 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The firm’s 50-day simple moving average is $258.14 and its 200-day simple moving average is $254.03. 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 Progressive Co. has a 1 year low of $201.34 and a 1 year high of $287.49.

Progressive (NYSE:PGR) last issued its 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 net margin of 11.25% and a return on equity of 33.79%. Equities analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s dividend payout ratio (DPR) is 2.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. 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 report on Friday, January 10th. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a research report on Tuesday, December 10th. StockNews.com cut shares of Progressive from a “buy” rating to a “hold” rating in a research report on Friday. Finally, BMO Capital Markets decreased their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $281.76.

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.