The Progressive Co. (NYSE:PGR) Position Lifted by Angeles Wealth Management LLC

Angeles Wealth Management LLC grew its stake in shares of The Progressive Co. (NYSE:PGR) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,179 shares of the insurance provider’s stock after acquiring an additional 154 shares during the period. Angeles Wealth Management LLC’s holdings in Progressive were worth $1,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthstar Advisors LLC acquired a new position in Progressive in the fourth quarter worth about $417,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Progressive by 0.6% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 45,106 shares of the insurance provider’s stock worth $11,137,000 after buying an additional 247 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Progressive in the 4th quarter worth approximately $87,000. Kestra Private Wealth Services LLC grew its position in shares of Progressive by 49.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,605 shares of the insurance provider’s stock worth $3,739,000 after acquiring an additional 5,171 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its holdings in shares of Progressive by 4.8% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,584 shares of the insurance provider’s stock valued at $380,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE PGR opened at $250.64 on Monday. The firm’s 50-day simple moving average is $245.24 and its 200 day simple moving average is $245.80. The stock has a market cap of $146.83 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.64 and a beta of 0.42. 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 Progressive Co. has a fifty-two week low of $180.72 and a fifty-two week high of $270.62.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities analysts expect that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is 2.78%.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of research reports. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley raised their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lowered their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $275.71.

Insider Buying and Selling at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at $78,539,110.22. The trade was a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lori A. Niederst sold 3,855 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $247.06, for a total transaction of $952,416.30. Following the completion of the sale, the insider now owns 39,040 shares in the company, valued at $9,645,222.40. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is owned by corporate insiders.

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.