362 Shares in The Progressive Co. (NYSE:PGR) Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. acquired a new stake in The Progressive Co. (NYSE:PGR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 362 shares of the insurance provider’s stock, valued at approximately $87,000.

Other institutional investors also recently modified their holdings of the company. Webster Bank N. A. bought a new position in Progressive in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Progressive in the 4th quarter valued at $28,000. Valley National Advisers Inc. raised its position in shares of Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 120 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Finally, Independence Bank of Kentucky boosted its holdings in Progressive by 1,650.0% in the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 165 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Transactions at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’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 $46,241.10. Following the completion of the transaction, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock valued at $13,983,575 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Progressive Stock Down 0.4 %

Shares of PGR stock opened at $249.61 on Tuesday. The company has a market capitalization of $146.22 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 0.64 and a beta of 0.42. The Progressive Co. has a 12-month low of $180.72 and a 12-month high of $270.62. The firm has a fifty day moving average of $245.24 and a 200-day moving average of $246.02. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, equities research analysts predict that The Progressive Co. will post 14.44 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Barclays cut their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Bank of America raised their price target on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.71.

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.