The Progressive Co. (NYSE:PGR) Shares Acquired by Secure Asset Management LLC

Secure Asset Management LLC increased its holdings in The Progressive Co. (NYSE:PGR) by 26.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,404 shares of the insurance provider’s stock after buying an additional 506 shares during the quarter. Secure Asset Management LLC’s holdings in Progressive were worth $576,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Progressive by 98.2% during the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 391 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Progressive by 90.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after buying an additional 3,720 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Progressive by 84.3% in the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after acquiring an additional 11,770 shares during the period. Sycomore Asset Management boosted its holdings in shares of Progressive by 9.5% in the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after acquiring an additional 2,450 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Progressive by 7.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after acquiring an additional 330,667 shares during the period. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. TD Cowen raised their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets dropped their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $274.65.

Progressive Trading Down 0.4 %

Shares of NYSE PGR opened at $238.58 on Friday. The stock has a market cap of $139.76 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.62 and a beta of 0.41. The business has a 50 day simple moving average of $248.62 and a 200 day simple moving average of $243.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Progressive Co. has a 52 week low of $175.50 and a 52 week high of $270.62.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. 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 2.91%.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 962 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $234,044.98. Following 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,506 shares of company stock worth $10,531,159. 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.