Brighton Jones LLC Increases Stake in The Progressive Co. (NYSE:PGR)

Brighton Jones LLC grew its position in The Progressive Co. (NYSE:PGR) by 15.6% during the 4th quarter, Holdings Channel reports. The fund owned 3,392 shares of the insurance provider’s stock after buying an additional 457 shares during the quarter. Brighton Jones LLC’s holdings in Progressive were worth $813,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc increased its holdings in shares of Progressive by 98.2% in the 4th 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 increased its position in shares of Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after buying an additional 3,720 shares in the last quarter. Diversified Trust Co raised its stake in shares of Progressive by 84.3% during the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after buying an additional 11,770 shares during the last quarter. Sycomore Asset Management raised its position in Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after acquiring an additional 2,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Progressive by 7.0% in 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 purchasing an additional 330,667 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,506 shares of company stock valued at $10,531,159 over the last quarter. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $238.58 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The company has a market cap of $139.76 billion, a PE ratio of 17.34, a P/E/G ratio of 0.62 and a beta of 0.41. The company’s fifty day simple moving average is $248.27 and its 200-day simple moving average is $243.31. The Progressive Co. has a 52 week low of $175.50 and a 52 week high of $270.62.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PGR. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company boosted their target price on shares of Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. TD Cowen boosted their price objective on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods decreased their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley reduced their price target on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.