The Progressive Co. (NYSE:PGR) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its position in The Progressive Co. (NYSE:PGR) by 63.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 35,093 shares of the insurance provider’s stock after acquiring an additional 13,670 shares during the period. Tower Research Capital LLC TRC’s holdings in Progressive were worth $8,409,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PGR. Webster Bank N. A. acquired a new stake in Progressive in the 4th quarter worth about $26,000. Hager Investment Management Services LLC purchased a new stake in Progressive in the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC increased its position in Progressive by 54.7% during the fourth 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 during the last quarter. Valley National Advisers Inc. boosted its holdings 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 last quarter. Finally, Atala Financial Inc purchased a new stake in shares of Progressive during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, insider Andrew J. Quigg sold 962 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $234,044.98. Following the completion of the sale, the insider now directly owns 34,787 shares of the company’s stock, valued at approximately $8,463,329.23. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction that occurred 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 completion of 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 56,317 shares of company stock valued at $14,844,282 over the last three months. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE:PGR opened at $265.45 on Friday. The Progressive Co. has a 12 month low of $201.34 and a 12 month high of $292.99. The stock has a market cap of $155.62 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.70 and a beta of 0.38. The stock’s 50 day moving average price is $273.91 and its 200 day moving average price is $257.86. 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 released its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.28 by $0.37. The firm had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities research analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Progressive’s payout ratio is 2.70%.

Analyst Ratings Changes

PGR has been the subject of a number of research reports. Roth Mkm boosted their price target on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. BMO Capital Markets lifted their price target on shares of Progressive from $282.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $288.00 target price on shares of Progressive in a research note on Thursday. Jefferies Financial Group decreased their price target on shares of Progressive from $327.00 to $319.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company raised their price objective on Progressive from $320.00 to $324.00 and gave the company an “overweight” rating in a research report on Thursday. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.76.

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.