The Progressive Co. (NYSE:PGR) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 14.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,210 shares of the insurance provider’s stock after acquiring an additional 155 shares during the period. Brookstone Capital Management’s holdings in Progressive were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PGR. Davis Capital Management acquired a new stake in shares of Progressive during the 3rd quarter worth about $25,000. DiNuzzo Private Wealth Inc. raised its position 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 acquiring an additional 73 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Progressive during the 2nd quarter worth about $36,000. Friedenthal Financial acquired a new stake in shares of Progressive during the 3rd quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progressive during the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 0.7 %

Progressive stock opened at $243.79 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62. The company has a market cap of $142.82 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The stock’s 50 day moving average price is $250.18 and its 200 day moving average price is $242.27.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid 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 presently 2.91%.

Analysts Set New Price Targets

Several research firms have commented on PGR. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group lifted their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets cut their price target 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, Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research report on Thursday, December 26th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $275.24.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of the business’s stock in a transaction on 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 directly owns 473,736 shares in the company, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of the business’s 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 sale, the chief financial officer now owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % 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 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.