TriaGen Wealth Management LLC Reduces Holdings in The Progressive Co. (NYSE:PGR)

TriaGen Wealth Management LLC decreased its holdings in shares of The Progressive Co. (NYSE:PGR) by 66.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,723 shares of the insurance provider’s stock after selling 5,475 shares during the period. TriaGen Wealth Management LLC’s holdings in Progressive were worth $652,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PGR. Geode Capital Management LLC boosted its position in Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after buying an additional 1,682,213 shares during the last quarter. Jennison Associates LLC lifted its holdings in Progressive by 21.6% in the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after acquiring an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Progressive by 75.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after acquiring an additional 641,943 shares during the period. International Assets Investment Management LLC lifted its holdings in Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after acquiring an additional 594,330 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Progressive by 206.8% in the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after acquiring an additional 590,235 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Stock Down 1.0 %

Shares of NYSE:PGR opened at $246.78 on Friday. 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 business has a fifty day moving average of $247.40 and a two-hundred day moving average of $244.30. The stock has a market cap of $144.57 billion, a P/E ratio of 17.14, a PEG ratio of 0.64 and a beta of 0.41. The Progressive Co. has a 52-week low of $176.37 and a 52-week high of $270.62.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 34.32% and a net margin of 11.25%. On average, research analysts expect that The Progressive Co. will post 14.03 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.78%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group upped their target price on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America upped their target price on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Evercore ISI upped their target price on Progressive from $277.00 to $285.00 and gave the stock 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 company’s stock. Based on data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.71.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $2,681,299.09. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lori A. Niederst sold 3,855 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the sale, the insider now directly owns 39,040 shares in the company, valued at $9,645,222.40. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is currently owned by company insiders.

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.