The Progressive Co. (NYSE:PGR) Shares Sold by Ycg LLC

Ycg LLC lessened its stake in shares of The Progressive Co. (NYSE:PGR) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,322 shares of the insurance provider’s stock after selling 301 shares during the quarter. Progressive accounts for 1.1% of Ycg LLC’s investment portfolio, making the stock its 29th biggest position. Ycg LLC’s holdings in Progressive were worth $14,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Webster Bank N. A. acquired a new position in shares of Progressive during the fourth quarter worth about $26,000. Hager Investment Management Services LLC acquired a new position in shares of Progressive in the fourth quarter worth about $28,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 41 shares in the last quarter. Valley National Advisers Inc. lifted its stake in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 120 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its stake in shares of Progressive by 1,650.0% in the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PGR shares. Roth Mkm boosted their price target on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Bank of America cut their price objective on Progressive from $333.00 to $318.00 and set a “buy” rating on the stock in a research note on Monday. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays upped their price objective on Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley upped their price objective on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Progressive has a consensus rating of “Moderate Buy” and an average target price of $276.59.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $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 a total of 62,257 shares of company stock valued at $15,752,781 over the last quarter. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

PGR opened at $277.33 on Wednesday. The firm has a market cap of $162.57 billion, a PE ratio of 19.26, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $255.77 and a 200-day simple moving average of $253.33. The Progressive Co. has a fifty-two week low of $195.57 and a fifty-two week high of $287.49.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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, equities analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

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.