Maripau Wealth Management LLC Purchases Shares of 1,612 The Progressive Co. (NYSE:PGR)

Maripau Wealth Management LLC purchased a new stake in The Progressive Co. (NYSE:PGR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,612 shares of the insurance provider’s stock, valued at approximately $386,000.

Other hedge funds have also recently bought and sold shares of the company. Webster Bank N. A. bought a new stake in Progressive in the 4th quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in Progressive in the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 41 shares during the period. Valley National Advisers Inc. lifted 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 acquiring an additional 120 shares during the period. Finally, Independence Bank of Kentucky lifted its holdings in shares of Progressive by 1,650.0% during the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 165 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now owns 282,958 shares in the company, valued at $67,530,756.28. The trade was a 3.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,361 shares of company stock worth $11,302,675 in the last quarter. 0.34% of the stock is owned by company insiders.

Progressive Trading Up 1.2 %

PGR opened at $282.02 on Friday. 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 stock has a market capitalization of $165.21 billion, a PE ratio of 19.58, a PEG ratio of 1.70 and a beta of 0.42. The Progressive Co. has a 1-year low of $186.94 and a 1-year high of $282.40. The firm has a 50-day moving average price of $250.25 and a two-hundred day moving average price of $250.91.

Progressive (NYSE:PGR) last posted its quarterly earnings data 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 net margin of 11.25% and a return on equity of 33.79%. As a group, equities analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared 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. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is 2.78%.

Analyst Ratings Changes

A number of research firms have recently commented on PGR. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays raised their price objective on shares of Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. Morgan Stanley raised their price objective on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. BMO Capital Markets reduced their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Bank of America raised their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock 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 issued a buy rating to the stock. According to data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and an average target price of $277.59.

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.