FFT Wealth Management LLC Has $631,000 Holdings in The Progressive Co. (NYSE:PGR)

FFT Wealth Management LLC grew its stake in The Progressive Co. (NYSE:PGR) by 67.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,631 shares of the insurance provider’s stock after purchasing an additional 1,057 shares during the quarter. FFT Wealth Management LLC’s holdings in Progressive were worth $631,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in Progressive by 98.2% during the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 391 shares during the last quarter. Townsquare Capital LLC raised 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Progressive by 7.0% during the 3rd 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. Assenagon Asset Management S.A. lifted its position in Progressive by 2,262.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock worth $103,990,000 after purchasing an additional 415,628 shares during the period. Finally, Signal Advisors Wealth LLC increased its holdings in Progressive by 42.3% in the 4th quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider’s stock valued at $2,849,000 after buying an additional 3,534 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lori A. Niederst sold 3,855 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the sale, the insider now owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by company insiders.

Progressive Price Performance

Shares of NYSE:PGR opened at $278.62 on Wednesday. The firm has a market cap of $163.22 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. The Progressive Co. has a 52 week low of $186.94 and a 52 week high of $279.93. The firm’s fifty day moving average is $247.97 and its 200-day moving average is $250.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Sell-side analysts predict that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s payout ratio is presently 2.78%.

Analysts Set New Price Targets

PGR has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their price target 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. Raymond James upgraded 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. Evercore ISI upped their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Roth Mkm lifted their target price on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets dropped their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and an average price target of $277.59.

About Progressive

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.