Coldstream Capital Management Inc. Acquires 1,239 Shares of The Progressive Co. (NYSE:PGR)

Coldstream Capital Management Inc. grew its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,147 shares of the insurance provider's stock after buying an additional 1,239 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Progressive were worth $2,911,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PGR. Webster Bank N. A. bought a new position in Progressive during the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in Progressive during the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC increased its position in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after buying an additional 41 shares in the last quarter. Valley National Advisers Inc. increased its position in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock valued at $29,000 after buying an additional 120 shares in the last quarter. Finally, Atala Financial Inc bought a new position in Progressive during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 85.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PGR shares. JPMorgan Chase & Co. raised their price objective on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. 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, February 25th. Jefferies Financial Group reduced their target price on Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. UBS Group raised their price target on Progressive from $275.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. Finally, Morgan Stanley raised their price target on Progressive from $310.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $287.41.

Insider Activity at Progressive

In related news, Director Jeffrey D. Kelly sold 10,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $250.00, for a total value of $2,500,000.00. Following the completion of the sale, the director now directly owns 27,741 shares in the company, valued at $6,935,250. This trade represents a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the chief financial officer now owns 268,024 shares of the company's stock, valued at approximately $75,759,663.84. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,749 shares of company stock valued at $14,472,513. 0.34% of the stock is owned by corporate insiders.

Progressive Price Performance

PGR traded up $6.79 during trading on Tuesday, reaching $276.37. 2,690,518 shares of the company traded hands, compared to its average volume of 2,633,333. 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 Progressive Co. has a 12-month low of $201.34 and a 12-month high of $292.99. The firm has a fifty day simple moving average of $274.29 and a 200 day simple moving average of $258.59. The company has a market cap of $162.02 billion, a P/E ratio of 19.19, a PEG ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, beating analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The firm had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. On average, equities analysts forecast 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 Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive's dividend payout ratio (DPR) is presently 2.70%.

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.