The Progressive Co. (NYSE:PGR) Shares Acquired by Marino Stram & Associates LLC

Marino Stram & Associates LLC lifted its position in shares of The Progressive Co. (NYSE:PGR) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,202 shares of the insurance provider’s stock after acquiring an additional 131 shares during the quarter. Marino Stram & Associates LLC’s holdings in Progressive were worth $1,007,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Place Capital Corp raised its position in Progressive by 23.5% in the fourth quarter. Park Place Capital Corp now owns 5,813 shares of the insurance provider’s stock valued at $1,393,000 after purchasing an additional 1,107 shares during the period. Albion Financial Group UT raised its position in Progressive by 5.3% in the fourth quarter. Albion Financial Group UT now owns 1,137 shares of the insurance provider’s stock valued at $272,000 after purchasing an additional 57 shares during the period. Advisory Alpha LLC raised its position in Progressive by 13.6% in the fourth quarter. Advisory Alpha LLC now owns 936 shares of the insurance provider’s stock valued at $224,000 after purchasing an additional 112 shares during the period. MBM Wealth Consultants LLC grew its stake in shares of Progressive by 3.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 6,061 shares of the insurance provider’s stock worth $1,458,000 after acquiring an additional 188 shares in the last quarter. Finally, Dakota Wealth Management grew its stake in shares of Progressive by 3.1% in the fourth quarter. Dakota Wealth Management now owns 126,270 shares of the insurance provider’s stock worth $30,256,000 after acquiring an additional 3,774 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 0.8 %

Shares of NYSE PGR opened at $239.13 on Thursday. 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 firm has a market cap of $140.08 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. The Progressive Co. has a 1 year low of $169.57 and a 1 year high of $270.62. The firm’s 50 day moving average price is $249.42 and its 200 day moving average price is $243.16.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.91%.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the sale, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,938 shares of company stock valued at $7,473,490 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PGR. Evercore ISI boosted their price target on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays lowered their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Bank of America boosted their target price on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Jefferies Financial Group upped their price objective on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Raymond James upgraded shares of 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $274.65.

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.