TD Private Client Wealth LLC Purchases 343 Shares of The Progressive Co. (NYSE:PGR)

TD Private Client Wealth LLC raised its position in shares of The Progressive Co. (NYSE:PGR) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,794 shares of the insurance provider’s stock after acquiring an additional 343 shares during the period. TD Private Client Wealth LLC’s holdings in Progressive were worth $2,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PGR. Webster Bank N. A. bought a new position in shares of Progressive in the fourth quarter worth about $26,000. Hager Investment Management Services LLC bought a new position in shares of Progressive in the fourth quarter worth about $28,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Progressive by 54.7% in the fourth 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 last quarter. Valley National Advisers Inc. grew its holdings in shares of Progressive by 3,000.0% in the fourth 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 last quarter. Finally, Atala Financial Inc bought a new position in shares of Progressive in the fourth quarter worth about $32,000. 85.34% of the stock is currently owned by institutional investors.

Progressive Price Performance

Shares of NYSE PGR opened at $273.08 on Friday. The stock has a market capitalization of $160.08 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 12 month low of $201.34 and a 12 month high of $292.99. The firm’s 50 day simple moving average is $261.96 and its 200-day simple moving average is $254.99. 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 issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping 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%. Analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s dividend payout ratio is currently 2.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PGR shares. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a report on Tuesday, December 10th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a report on Thursday, December 26th. Morgan Stanley increased their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company increased their target price on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.06.

Insider Activity at Progressive

In other Progressive news, CFO John P. Sauerland sold 1,542 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $282.66, for a total value of $435,861.72. Following the transaction, the chief financial officer now owns 268,024 shares in the company, valued at approximately $75,759,663.84. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the completion of the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,495 shares of company stock valued at $16,668,034. 0.34% of the stock is owned by company insiders.

Progressive 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.