Poinciana Advisors Group LLC Takes Position in The Progressive Co. (NYSE:PGR)

Poinciana Advisors Group LLC acquired a new stake in The Progressive Co. (NYSE:PGR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,373 shares of the insurance provider’s stock, valued at approximately $329,000.

Several other large investors also recently modified their holdings of PGR. Webster Bank N. A. bought a new stake in shares of Progressive in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive in the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Progressive by 54.7% in the 4th 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 period. Valley National Advisers Inc. grew its stake in shares of 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 purchasing an additional 120 shares during the period. Finally, Atala Financial Inc bought a new stake in shares of Progressive in the 4th quarter valued at approximately $32,000. 85.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Progressive news, CIO Jonathan S. Bauer sold 1,227 shares of Progressive stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $281.00, for a total transaction of $344,787.00. Following the transaction, the executive now directly owns 28,393 shares in the company, valued at approximately $7,978,433. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,257 shares of company stock worth $15,752,781. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PGR. Roth Mkm raised their price target on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. UBS Group raised their price target on Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Friday. Raymond James raised 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 cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price target on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $281.76.

Progressive Stock Up 1.6 %

NYSE:PGR opened at $283.87 on Friday. The Progressive Co. has a 12-month low of $199.57 and a 12-month high of $287.49. 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 firm has a market capitalization of $166.41 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.70 and a beta of 0.35. The stock’s fifty day simple moving average is $258.14 and its 200-day simple moving average is $253.97.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) 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%. Equities research analysts expect that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s dividend payout ratio 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.