7,144 Shares in The Progressive Co. (NYSE:PGR) Acquired by TFR Capital LLC.

TFR Capital LLC. bought a new position in shares of The Progressive Co. (NYSE:PGR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,144 shares of the insurance provider's stock, valued at approximately $1,712,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Webster Bank N. A. acquired a new position in shares of Progressive during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new position in shares of Progressive during the 4th quarter worth approximately $28,000. Minot DeBlois Advisors LLC acquired a new position in shares of Progressive during the 4th quarter worth approximately $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings 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. Finally, Valley National Advisers Inc. raised its position in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 120 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Up 2.7%

Progressive stock traded up $7.52 during trading on Friday, reaching $284.82. 5,075,017 shares of the company's stock were exchanged, compared to its average volume of 2,656,429. The company's 50-day moving average is $275.72 and its two-hundred day moving average is $263.53. 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 52-week low of $201.34 and a 52-week high of $292.99. The firm has a market cap of $166.97 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.70 and a beta of 0.40.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, analysts predict that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

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

Wall Street Analyst Weigh In

PGR has been the topic of several analyst reports. Wall Street Zen cut Progressive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. BMO Capital Markets increased their target price on Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Barclays increased their target price on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Roth Mkm increased their target price on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, UBS Group increased their target price on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Progressive has an average rating of "Moderate Buy" and a consensus target price of $288.59.

Insider Buying and Selling

In other Progressive news, CAO Carl G. Joyce sold 360 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total value 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 represents a 35.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $275.94, for a total transaction of $2,759,400.00. Following the completion of the transaction, the chief financial officer now owns 258,024 shares of the company's stock, valued at approximately $71,199,142.56. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,651 shares of company stock worth $12,017,780 over the last quarter. 0.33% of the stock is owned by company insiders.

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.