The Progressive Co. (NYSE:PGR) Stock Holdings Lifted by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC raised its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,796 shares of the insurance provider's stock after purchasing an additional 2,907 shares during the quarter. Signal Advisors Wealth LLC's holdings in Progressive were worth $4,187,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Archer Investment Corp raised its stake in Progressive by 295.1% during the 4th quarter. Archer Investment Corp now owns 2,102 shares of the insurance provider's stock valued at $504,000 after purchasing an additional 1,570 shares during the period. Sycomore Asset Management boosted its position in Progressive by 42.8% during the 4th quarter. Sycomore Asset Management now owns 51,770 shares of the insurance provider's stock worth $13,066,000 after acquiring an additional 15,512 shares during the period. Vivid Wealth Management LLC acquired a new stake in Progressive during the 4th quarter worth about $2,143,000. Van ECK Associates Corp boosted its position in Progressive by 3.4% during the 4th quarter. Van ECK Associates Corp now owns 16,199 shares of the insurance provider's stock worth $3,881,000 after acquiring an additional 527 shares during the period. Finally, Allstate Corp acquired a new stake in Progressive during the 4th quarter worth about $4,205,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PGR has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on Progressive from $324.00 to $328.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the company an "overweight" rating in a report on Monday, May 19th. Wall Street Zen cut shares of Progressive from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods restated a "market perform" rating and set a $288.00 price target on shares of Progressive in a report on Thursday, April 17th. Finally, Roth Mkm boosted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Progressive currently has an average rating of "Moderate Buy" and an average target price of $288.59.

Progressive Stock Down 0.8%

Progressive stock opened at $279.80 on Friday. The firm has a market cap of $164.03 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 1.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99. The firm has a fifty day moving average price of $276.29 and a two-hundred day moving average price of $264.27.

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

Progressive Announces Dividend

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

Insiders Place Their Bets

In other news, insider Steven Broz sold 1,267 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $277.81, for a total transaction of $351,985.27. Following the completion of the transaction, the insider now owns 28,888 shares of the company's stock, valued at approximately $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Jonathan S. Bauer sold 1,696 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $282.66, for a total transaction of $479,391.36. Following the transaction, the executive now directly owns 26,697 shares of the company's stock, valued at $7,546,174.02. This represents a 5.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $10,367,074 in the last quarter. Insiders own 0.34% of the company's stock.

About Progressive

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.

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