Lantz Financial LLC Has $2.92 Million Holdings in The Progressive Co. (NYSE:PGR)

Lantz Financial LLC decreased its holdings in The Progressive Co. (NYSE:PGR) by 2.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,203 shares of the insurance provider’s stock after selling 246 shares during the period. Progressive comprises about 0.8% of Lantz Financial LLC’s portfolio, making the stock its 28th biggest holding. Lantz Financial LLC’s holdings in Progressive were worth $2,924,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Davis Capital Management bought a new stake in shares of Progressive during the 3rd quarter worth about $25,000. DiNuzzo Private Wealth Inc. raised its position in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Progressive in the second quarter worth $36,000. Friedenthal Financial bought a new stake in shares of Progressive during the 3rd quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Progressive in the 3rd quarter valued at $49,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Trading Down 0.4 %

Shares of NYSE PGR opened at $238.58 on Friday. The Progressive Co. has a twelve month low of $175.50 and a twelve month high of $270.62. The stock has a market cap of $139.76 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.62 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $248.27 and its 200-day moving average is $243.31.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Insider Transactions at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 585 shares of the company’s 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 $142,324.65. Following the completion of the transaction, the chief accounting officer now owns 3,983 shares of the company’s stock, valued at $969,024.07. This represents a 12.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the completion of the sale, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,506 shares of company stock valued at $10,531,159 over the last 90 days. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PGR shares. Wells Fargo & Company increased their target price on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research note on Thursday, December 26th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods lowered their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI boosted their price target on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $274.65.

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.