Blue Rock Wealth Management LLC Makes New $358,000 Investment in The Progressive Co. (NYSE:PGR)

Blue Rock Wealth Management LLC acquired a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,495 shares of the insurance provider's stock, valued at approximately $358,000.

Several other hedge funds have also recently bought and sold shares of PGR. Webster Bank N. A. acquired a new position in Progressive during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new stake in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC grew its position in Progressive by 54.7% in 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 last quarter. Valley National Advisers Inc. raised its stake in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock worth $29,000 after acquiring an additional 120 shares in 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 owned by institutional investors.

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the completion of the transaction, the chief financial officer now owns 248,024 shares in the company, valued at approximately $66,616,766.16. The trade was a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick K. Callahan sold 4,669 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $279.70, for a total value of $1,305,919.30. Following the completion of the sale, the insider now directly owns 15,191 shares of the company's stock, valued at approximately $4,248,922.70. This trade represents a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,894 shares of company stock valued at $11,020,097 over the last ninety days. 0.34% of the stock is owned by company insiders.

Progressive Trading Down 0.2 %

Shares of Progressive stock traded down $0.70 on Monday, reaching $282.11. 2,216,249 shares of the company's stock were exchanged, compared to its average volume of 2,630,388. The company has a market capitalization of $165.38 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The firm's 50-day moving average is $274.78 and its two-hundred day moving average is $259.23.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.37. The firm had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Sell-side analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Progressive's dividend payout ratio (DPR) is presently 2.70%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PGR. BMO Capital Markets increased their price objective on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Wells Fargo & Company upped their target price on Progressive from $320.00 to $324.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $288.00 price target on shares of Progressive in a research note on Thursday, April 17th. Morgan Stanley upped their price objective on Progressive from $310.00 to $320.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. Finally, Barclays lifted their target price on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $287.41.

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.