The Progressive Co. (NYSE:PGR) Shares Bought by Lakeridge Wealth Management LLC

Lakeridge Wealth Management LLC boosted its position in shares of The Progressive Co. (NYSE:PGR) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,834 shares of the insurance provider’s stock after acquiring an additional 104 shares during the period. Lakeridge Wealth Management LLC’s holdings in Progressive were worth $679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 391 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after buying an additional 3,720 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after buying an additional 330,667 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Progressive by 2,262.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock worth $103,990,000 after buying an additional 415,628 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Progressive by 30.5% during the 4th quarter. Nordea Investment Management AB now owns 1,069,697 shares of the insurance provider’s stock worth $255,882,000 after buying an additional 249,958 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Morgan Stanley boosted their price objective on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. HSBC downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research report on Tuesday, December 10th. Barclays reduced their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, BMO Capital Markets reduced their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.71.

Insider Transactions at Progressive

In other news, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total transaction of $952,416.30. Following the transaction, the insider now directly owns 39,040 shares of the company’s stock, valued at $9,645,222.40. This represents a 8.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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 company insiders.

Progressive Stock Performance

Shares of PGR opened at $262.71 on Friday. 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 stock has a market capitalization of $153.90 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.42. The company’s fifty day moving average is $244.97 and its two-hundred day moving average is $247.09. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $270.62.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. On average, sell-side analysts predict that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

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.