Silver Oak Securities Incorporated Has $914,000 Holdings in The Progressive Co. (NYSE:PGR)

Silver Oak Securities Incorporated trimmed its holdings in The Progressive Co. (NYSE:PGR) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,815 shares of the insurance provider’s stock after selling 1,109 shares during the period. Silver Oak Securities Incorporated’s holdings in Progressive were worth $914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. acquired a new stake in Progressive during the 4th quarter valued at $26,000. Hager Investment Management Services LLC bought a new position in shares of Progressive in the fourth quarter valued at about $28,000. Valley National Advisers Inc. lifted its stake in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the period. Finally, Independence Bank of Kentucky boosted its holdings in shares of Progressive by 1,650.0% during the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after buying an additional 165 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research reports. Evercore ISI raised their price objective on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a research note on Tuesday, December 10th. BMO Capital Markets lowered their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and an average price target of $275.71.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lori A. Niederst sold 3,855 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the sale, the insider now owns 39,040 shares in the company, valued at $9,645,222.40. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by insiders.

Progressive Stock Performance

Shares of NYSE:PGR opened at $251.33 on Friday. The Progressive Co. has a 1 year low of $180.68 and a 1 year high of $270.62. The stock has a market capitalization of $147.23 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The company’s 50 day simple moving average is $245.92 and its 200 day simple moving average is $245.32.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts predict that The Progressive Co. will post 14.4 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is currently 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.