1,498 Shares in The Progressive Co. (NYSE:PGR) Purchased by Capital A Wealth Management LLC

Capital A Wealth Management LLC bought a new stake in shares of The Progressive Co. (NYSE:PGR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,498 shares of the insurance provider's stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. purchased a new position in Progressive during the fourth quarter valued at $26,000. Hager Investment Management Services LLC purchased a new position in Progressive during the fourth quarter valued at $28,000. Minot DeBlois Advisors LLC purchased a new position in Progressive during the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC grew its stake in Progressive by 54.7% during 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 in the last quarter. Finally, Valley National Advisers Inc. grew 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 valued at $29,000 after acquiring an additional 120 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Progressive

In other news, CAO Carl G. Joyce sold 360 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total transaction of $99,421.20. Following the completion of the transaction, the chief accounting officer now owns 655 shares in the company, valued at approximately $180,891.35. This trade represents a 35.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $275.37, for a total value of $2,753,700.00. Following the sale, the chief financial officer now directly owns 238,024 shares of the company's stock, valued at approximately $65,544,668.88. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,651 shares of company stock valued at $12,017,780. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PGR has been the subject of several research reports. UBS Group increased their price objective on shares of Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective for the company in a report on Monday, April 28th. Barclays lifted their price objective on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, Jefferies Financial Group decreased their price objective on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $288.59.

Progressive Stock Performance

NYSE PGR traded up $7.52 during trading hours on Friday, hitting $284.82. The company had a trading volume of 5,075,017 shares, compared to its average volume of 2,656,429. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $275.72 and a 200-day simple moving average of $263.53. The firm has a market cap of $166.97 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

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

Progressive Announces Dividend

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

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.