The Progressive Co. (NYSE:PGR) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its position in The Progressive Co. (NYSE:PGR) by 5.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,655 shares of the insurance provider’s stock after purchasing an additional 385 shares during the period. Kestra Private Wealth Services LLC’s holdings in Progressive were worth $1,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its position in Progressive by 14.1% during the third quarter. Wellington Management Group LLP now owns 21,554,503 shares of the insurance provider’s stock worth $3,002,542,000 after acquiring an additional 2,666,449 shares during the last quarter. Northern Trust Corp lifted its stake in Progressive by 2.8% in the 3rd quarter. Northern Trust Corp now owns 5,982,841 shares of the insurance provider’s stock valued at $833,410,000 after buying an additional 162,916 shares in the last quarter. Deutsche Bank AG grew its holdings in Progressive by 2.9% during the 3rd quarter. Deutsche Bank AG now owns 5,641,166 shares of the insurance provider’s stock valued at $785,814,000 after buying an additional 156,332 shares during the last quarter. Invesco Ltd. grew its holdings in Progressive by 31.8% during the 3rd quarter. Invesco Ltd. now owns 4,781,075 shares of the insurance provider’s stock valued at $666,004,000 after buying an additional 1,154,591 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Progressive by 10.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,363,575 shares of the insurance provider’s stock worth $468,546,000 after buying an additional 309,287 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Roth Mkm boosted their price objective on shares of Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. raised their target price on shares of Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. HSBC boosted their price target on Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $211.88.

Insiders Place Their Bets

In related news, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the sale, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total transaction of $208,330.00. Following the sale, the director now owns 7,176 shares in the company, valued at $1,494,976.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick K. Callahan sold 29,675 shares of Progressive stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the transaction, the insider now owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The disclosure for this sale can be found here. Insiders have sold a total of 39,139 shares of company stock valued at $7,458,139 in the last quarter. Insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.1 %

Shares of PGR stock opened at $208.72 on Friday. The firm’s 50 day moving average price is $203.96 and its two-hundred day moving average price is $179.25. The stock has a market cap of $122.25 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 0.82 and a beta of 0.34. The Progressive Co. has a fifty-two week low of $111.41 and a fifty-two week high of $216.21. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 0.32.

Progressive (NYSE:PGR) last released its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts anticipate that The Progressive Co. will post 11.34 EPS for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date was Wednesday, April 3rd. Progressive’s dividend payout ratio is currently 4.09%.

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.