Unique Wealth LLC Has $318,000 Stock Position in The Progressive Co. (NYSE:PGR)

Unique Wealth LLC lowered its stake in shares of The Progressive Co. (NYSE:PGR) by 16.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,328 shares of the insurance provider’s stock after selling 256 shares during the quarter. Unique Wealth LLC’s holdings in Progressive were worth $318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Progressive by 1.3% in the 3rd quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock worth $6,263,763,000 after acquiring an additional 315,411 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after buying an additional 1,682,213 shares during the last quarter. FMR LLC grew its position in shares of Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after acquiring an additional 170,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Progressive by 7.0% in the third 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 buying an additional 330,667 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

NYSE PGR opened at $235.84 on Tuesday. The stock’s fifty day moving average is $251.23 and its two-hundred day moving average is $241.78. The firm has a market capitalization of $138.16 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Progressive Co. has a fifty-two week low of $166.92 and a fifty-two week high of $270.62.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The firm had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. On average, research analysts anticipate that The Progressive Co. will post 13.2 earnings per share for the current year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.17%. Progressive’s dividend payout ratio (DPR) is 2.91%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Roth Mkm upped their price target on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Progressive in a research report on Friday, December 13th. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.24.

Insiders Place Their Bets

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’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 $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 33,612 shares of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,919 shares of company stock worth $8,222,168 in the last quarter. 0.34% of the stock is owned by company insiders.

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.