The Progressive Co. (NYSE:PGR) Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC trimmed its stake in The Progressive Co. (NYSE:PGR) by 18.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,599 shares of the insurance provider’s stock after selling 3,823 shares during the quarter. Progressive accounts for approximately 1.3% of Wambolt & Associates LLC’s holdings, making the stock its 22nd biggest holding. Wambolt & Associates LLC’s holdings in Progressive were worth $3,977,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Great Valley Advisor Group Inc. raised its holdings in Progressive by 67.1% during the third quarter. Great Valley Advisor Group Inc. now owns 2,788 shares of the insurance provider’s stock worth $707,000 after purchasing an additional 1,120 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in Progressive by 20.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,001 shares of the insurance provider’s stock valued at $508,000 after acquiring an additional 335 shares during the last quarter. Algert Global LLC bought a new position in shares of Progressive during the 3rd quarter valued at about $3,490,000. Penserra Capital Management LLC grew its stake in shares of Progressive by 71.6% in the 3rd quarter. Penserra Capital Management LLC now owns 7,076 shares of the insurance provider’s stock worth $1,794,000 after purchasing an additional 2,953 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Progressive by 541.2% in the 3rd quarter. Larson Financial Group LLC now owns 218 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Up 0.4 %

NYSE:PGR opened at $274.07 on Tuesday. 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 company’s 50 day moving average is $262.72 and its 200-day moving average is $255.19. The firm has a market cap of $160.66 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 12 month low of $201.34 and a 12 month high of $292.99.

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 net margin of 11.25% and a return on equity of 33.79%. Equities analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Analyst Ratings Changes

Several research analysts have issued reports on PGR shares. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays lifted their target price on shares of Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 13th. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research report on Tuesday, December 10th. UBS Group increased their target price on Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. upped their price target on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.06.

Insider Activity at Progressive

In other news, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,855 shares of company stock worth $16,767,455 over the last three months. 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.