Werba Rubin Papier Wealth Management Acquires 69 Shares of The Progressive Co. (NYSE:PGR)

Werba Rubin Papier Wealth Management lifted its position in shares of The Progressive Co. (NYSE:PGR) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,011 shares of the insurance provider’s stock after buying an additional 69 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in Progressive were worth $242,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. acquired a new stake in Progressive in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive in the fourth quarter worth approximately $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. Valley National Advisers Inc. increased its stake in Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares during the last quarter. Finally, Independence Bank of Kentucky increased its position in shares of Progressive by 1,650.0% during the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 165 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Stock Up 0.4 %

Shares of PGR stock opened at $263.59 on Wednesday. The stock has a market cap of $154.41 billion, a P/E ratio of 18.30, a PEG ratio of 0.66 and a beta of 0.42. The Progressive Co. has a 52 week low of $186.94 and a 52 week high of $270.62. 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 company’s fifty day simple moving average is $245.59 and its two-hundred day simple moving average is $248.21.

Progressive (NYSE:PGR) last issued its 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%. Analysts predict that The Progressive Co. will post 14.44 EPS for the current fiscal year.

Progressive Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on PGR. Barclays upped their price objective on Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a research note on Tuesday. BMO Capital Markets dropped their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Morgan Stanley upped their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. TD Cowen upped their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research note on Thursday, December 26th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $275.88.

Insider Activity at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was 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 directly owns 292,958 shares in the company, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is owned by corporate insiders.

Progressive Company 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.