Stratos Wealth Advisors LLC Purchases 344 Shares of The Progressive Co. (NYSE:PGR)

Stratos Wealth Advisors LLC increased its position in shares of The Progressive Co. (NYSE:PGR) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,375 shares of the insurance provider’s stock after acquiring an additional 344 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Progressive were worth $2,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Czech National Bank boosted its position in shares of Progressive by 6.9% in the 3rd quarter. Czech National Bank now owns 119,306 shares of the insurance provider’s stock worth $30,275,000 after purchasing an additional 7,696 shares in the last quarter. Aprio Wealth Management LLC raised its stake in Progressive by 5.1% in the third quarter. Aprio Wealth Management LLC now owns 1,244 shares of the insurance provider’s stock valued at $316,000 after buying an additional 60 shares during the last quarter. Callan Family Office LLC acquired a new stake in Progressive in the third quarter worth about $205,000. Dynamic Advisor Solutions LLC grew its stake in shares of Progressive by 188.9% during the third quarter. Dynamic Advisor Solutions LLC now owns 3,918 shares of the insurance provider’s stock worth $994,000 after acquiring an additional 2,562 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Progressive by 4.4% during the third quarter. Atomi Financial Group Inc. now owns 4,815 shares of the insurance provider’s stock valued at $1,222,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research report on Tuesday, December 10th. BMO Capital Markets lowered their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lifted their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and an average price target of $275.71.

Insider Activity at Progressive

In other news, insider Andrew J. Quigg sold 681 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of the company’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 of the company’s stock, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Up 0.4 %

Shares of PGR opened at $248.99 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market cap of $145.86 billion, a P/E ratio of 17.29, a PEG ratio of 0.63 and a beta of 0.42. The stock’s 50 day moving average is $246.28 and its two-hundred day moving average is $245.29. The Progressive Co. has a 12 month low of $179.90 and a 12 month high of $270.62.

Progressive (NYSE:PGR) last issued its quarterly 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%. Analysts predict that The Progressive Co. will post 14.4 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. 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.