Bensler LLC Acquires 2,457 Shares of The Progressive Co. (NYSE:PGR)

Bensler LLC increased its position in The Progressive Co. (NYSE:PGR) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,709 shares of the insurance provider’s stock after purchasing an additional 2,457 shares during the quarter. Progressive makes up about 1.8% of Bensler LLC’s portfolio, making the stock its 16th biggest position. Bensler LLC’s holdings in Progressive were worth $15,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PGR. Davis Capital Management purchased a new stake in Progressive during the third quarter worth $25,000. Webster Bank N. A. acquired a new position in shares of Progressive in the 4th quarter valued at $26,000. DiNuzzo Private Wealth Inc. increased its position in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Kimelman & Baird LLC acquired a new stake in Progressive during the 2nd quarter worth about $36,000. Finally, Friedenthal Financial acquired a new stake in Progressive during the 3rd quarter worth about $49,000. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $115,255,231.44. The trade was a 2.27 % 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 the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,506 shares of company stock worth $10,531,159. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PGR. Morgan Stanley dropped their target price on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Bank of America raised their target price on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays reduced their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets reduced their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $274.65.

Progressive Stock Performance

NYSE:PGR opened at $245.06 on Tuesday. The company has a fifty day simple moving average of $248.27 and a two-hundred day simple moving average of $243.79. The company has a market cap of $143.56 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth 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 Progressive Co. has a 52 week low of $175.50 and a 52 week high of $270.62.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s payout ratio is currently 2.91%.

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.