Arkadios Wealth Advisors Buys 318 Shares of The Progressive Co. (NYSE:PGR)

Arkadios Wealth Advisors lifted its position in shares of The Progressive Co. (NYSE:PGR) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,565 shares of the insurance provider’s stock after purchasing an additional 318 shares during the quarter. Arkadios Wealth Advisors’ holdings in Progressive were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Davis Capital Management acquired a new stake in shares of Progressive during the 3rd quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. lifted 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 acquiring an additional 73 shares during the period. Kimelman & Baird LLC bought a new position in shares of Progressive during the 2nd quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Progressive during the 3rd quarter worth about $49,000. Finally, Friedenthal Financial bought a new position 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 Performance

Shares of NYSE:PGR opened at $243.79 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62. The stock has a market capitalization of $142.82 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.61 and a beta of 0.41. The business has a 50-day moving average price of $250.18 and a two-hundred day moving average price of $242.71.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio is currently 2.91%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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 report on Wednesday, November 6th. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a report on Thursday, December 26th. JPMorgan Chase & Co. increased 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Progressive in a report on Friday, December 13th. Finally, Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $275.24.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,938 shares of company stock valued at $7,473,490. 0.34% of the stock is currently owned by 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.