Cottonwood Capital Advisors LLC Buys 949 Shares of The Progressive Co. (NYSE:PGR)

Cottonwood Capital Advisors LLC increased its stake in shares of The Progressive Co. (NYSE:PGRFree Report) by 95.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,941 shares of the insurance provider’s stock after buying an additional 949 shares during the period. Cottonwood Capital Advisors LLC’s holdings in Progressive were worth $465,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Gradient Investments LLC bought a new stake in shares of Progressive during the 4th quarter worth about $717,000. Exchange Traded Concepts LLC boosted its holdings in Progressive by 102.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 23,263 shares of the insurance provider’s stock valued at $5,574,000 after purchasing an additional 11,753 shares during the period. CX Institutional boosted its holdings in Progressive by 21.8% in the 4th quarter. CX Institutional now owns 5,060 shares of the insurance provider’s stock valued at $1,213,000 after purchasing an additional 907 shares during the period. Berbice Capital Management LLC bought a new stake in Progressive in the 4th quarter valued at about $120,000. Finally, Encompass More Asset Management boosted its holdings in Progressive by 31.8% in the 4th quarter. Encompass More Asset Management now owns 2,809 shares of the insurance provider’s stock valued at $673,000 after purchasing an additional 678 shares during the period. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

PGR stock opened at $238.58 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 1 year low of $175.50 and a 1 year high of $270.62. The company has a 50 day simple moving average of $248.62 and a 200 day simple moving average of $243.11. The stock has a market cap of $139.76 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.62 and a beta of 0.41.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,506 shares of company stock worth $10,531,159. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods cut their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen boosted their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $274.65.

Check Out Our Latest Stock Report on Progressive

Progressive Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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