GenTrust LLC Acquires 222 Shares of The Progressive Co. (NYSE:PGR)

GenTrust LLC raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 22.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,192 shares of the insurance provider’s stock after buying an additional 222 shares during the period. GenTrust LLC’s holdings in Progressive were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PGR. Webster Bank N. A. bought a new stake in Progressive during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in Progressive during the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in Progressive by 54.7% during 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 during the period. Valley National Advisers Inc. raised its holdings in Progressive by 3,000.0% during 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 during the period. Finally, Independence Bank of Kentucky raised its holdings in 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 acquiring an additional 165 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares in the company, valued at $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.

Analyst Upgrades and Downgrades

PGR has been the topic of several research reports. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Roth Mkm lifted their target price on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI lifted their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their target price on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and an average price target of $277.59.

Progressive Stock Down 1.9 %

Shares of NYSE:PGR opened at $273.13 on Thursday. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $280.25. The business has a 50 day simple moving average of $248.63 and a two-hundred day simple moving average of $250.30. The firm has a market capitalization of $160.00 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

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

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive’s dividend payout ratio (DPR) is presently 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.