Congress Wealth Management LLC DE Has $2.58 Million Stake in The Progressive Co. (NYSE:PGR)

Congress Wealth Management LLC DE cut its stake in The Progressive Co. (NYSE:PGR) by 36.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,767 shares of the insurance provider’s stock after selling 6,059 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Progressive were worth $2,580,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its stake in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares during the last quarter. LRI Investments LLC increased its position in shares of Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares during the last quarter. Washington Trust Bank lifted its holdings in Progressive by 4.1% during the fourth quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 42 shares during the period. SYM FINANCIAL Corp boosted its position in Progressive by 2.8% in the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 44 shares during the last quarter. Finally, Monument Capital Management grew its stake in Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after purchasing an additional 44 shares during the period. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Down 0.7 %

Shares of PGR stock opened at $272.49 on Thursday. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. The business’s fifty day moving average is $264.03 and its 200 day moving average is $255.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The company has a market capitalization of $159.74 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last issued its quarterly earnings data 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%. On average, equities research analysts anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PGR shares. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a report on Tuesday, December 10th. Wells Fargo & Company upped their price target on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research note on Thursday, December 26th. Finally, Morgan Stanley upped their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $281.06.

Insiders Place Their Bets

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction dated 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 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 66,255 shares of company stock valued at $16,877,471 over the last 90 days. Insiders own 0.34% of the company’s stock.

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.