Fidelis Capital Partners LLC Has $1.04 Million Stake in The Progressive Co. (NYSE:PGR)

Fidelis Capital Partners LLC boosted its stake in The Progressive Co. (NYSE:PGR) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,189 shares of the insurance provider’s stock after buying an additional 47 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Progressive were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PGR. Chicago Partners Investment Group LLC boosted its stake in Progressive by 17.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,308 shares of the insurance provider’s stock valued at $323,000 after buying an additional 191 shares in the last quarter. BSW Wealth Partners boosted its stake in Progressive by 75.3% in the 3rd quarter. BSW Wealth Partners now owns 2,067 shares of the insurance provider’s stock valued at $524,000 after buying an additional 888 shares in the last quarter. TrueWealth Advisors LLC acquired a new stake in Progressive in the 3rd quarter valued at $221,000. Robeco Institutional Asset Management B.V. boosted its stake in Progressive by 13.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 301,917 shares of the insurance provider’s stock valued at $76,614,000 after buying an additional 35,800 shares in the last quarter. Finally, KG&L Capital Management LLC boosted its stake in Progressive by 31.1% in the 3rd quarter. KG&L Capital Management LLC now owns 2,219 shares of the insurance provider’s stock valued at $563,000 after buying an additional 527 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PGR shares. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a research note on Thursday, December 26th. Wells Fargo & Company boosted their price objective on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. TD Cowen boosted their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Barclays boosted their price objective on Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their price objective on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $277.59.

Progressive Trading Up 1.0 %

NYSE:PGR opened at $284.95 on Tuesday. The Progressive Co. has a 1-year low of $187.32 and a 1-year high of $285.28. The business’s 50-day moving average price is $251.13 and its two-hundred day moving average price is $251.57. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $166.93 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.70 and a beta of 0.42.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate 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 expect that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date was Friday, January 10th. Progressive’s payout ratio is 2.78%.

Insider Buying and Selling at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $279.94, for a total transaction of $2,799,400.00. Following the sale, the chief financial officer now owns 269,566 shares of the company’s stock, valued at $75,462,306.04. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,361 shares of company stock valued at $14,102,075. 0.34% of the stock is currently owned by company insiders.

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.