Assetmark Inc. Buys 4,431 Shares of The Progressive Co. (NYSE:PGR)

Assetmark Inc. increased its stake in The Progressive Co. (NYSE:PGR) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,562 shares of the insurance provider’s stock after purchasing an additional 4,431 shares during the quarter. Assetmark Inc.’s holdings in Progressive were worth $14,751,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PGR. Webster Bank N. A. bought a new stake in Progressive during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in Progressive during the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the period. Valley National Advisers Inc. raised its holdings in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 120 shares during the period. Finally, Independence Bank of Kentucky raised its holdings in Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 165 shares during the period. 85.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

PGR has been the topic of a number of recent analyst reports. Roth Mkm raised their price target on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Barclays raised their price target on Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. BMO Capital Markets decreased their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley lifted their target price on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.59.

Progressive Trading Down 0.3 %

PGR opened at $281.00 on Friday. The firm has a market cap of $164.61 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.70 and a beta of 0.42. The Progressive Co. has a 12 month low of $193.85 and a 12 month high of $287.49. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $253.46 and a 200 day moving average of $252.31.

Progressive (NYSE:PGR) last released its quarterly 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%. As a group, research analysts forecast that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given 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 0.14%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Insider Buying and Selling at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the sale, the chief financial officer now owns 282,958 shares in the company, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $14,102,075 over the last 90 days. Company insiders own 0.34% of the company’s stock.

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.