The Progressive Co. (NYSE:PGR) Stock Position Raised by J.Safra Asset Management Corp

J.Safra Asset Management Corp increased its stake in The Progressive Co. (NYSE:PGR) by 44.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 444 shares of the insurance provider’s stock after acquiring an additional 137 shares during the quarter. J.Safra Asset Management Corp’s holdings in Progressive were worth $106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its stake in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC increased its position in shares of Progressive by 16.5% in the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after acquiring an additional 42 shares in the last quarter. SYM FINANCIAL Corp lifted its position in shares of Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 44 shares in the last quarter. Monument Capital Management boosted its stake in Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after purchasing an additional 44 shares during the period. Finally, Washington Trust Bank grew its position in Progressive by 4.6% during the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after purchasing an additional 45 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now directly owns 282,958 shares in the company, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock worth $14,102,075 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Barclays increased their price objective on Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods reduced their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company raised their price target on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $277.59.

Progressive Price Performance

Shares of NYSE:PGR opened at $281.84 on Thursday. The stock has a market capitalization of $165.11 billion, a P/E ratio of 19.57, a P/E/G ratio of 1.70 and a beta of 0.42. The business has a 50-day moving average of $252.70 and a two-hundred day moving average of $252.11. The Progressive Co. has a fifty-two week low of $191.00 and a fifty-two week high of $287.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Progressive’s payout ratio is presently 2.78%.

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.