Chicago Partners Investment Group LLC Has $358,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Chicago Partners Investment Group LLC boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 12.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,471 shares of the insurance provider’s stock after buying an additional 163 shares during the period. Chicago Partners Investment Group LLC’s holdings in Progressive were worth $358,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. bought a new stake in Progressive in the 4th quarter valued at $26,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Progressive during the third quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Progressive during the third quarter worth about $49,000. Finally, Larson Financial Group LLC raised its position in Progressive by 541.2% in the 3rd quarter. Larson Financial Group LLC now owns 218 shares of the insurance provider’s stock valued at $55,000 after buying an additional 184 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lori A. Niederst sold 3,855 shares of the firm’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 transaction, the insider now directly owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. This represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last three months. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Barclays cut their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Bank of America raised their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. 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 research report on Thursday, December 26th. Finally, Jefferies Financial Group boosted 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. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Progressive Stock Down 0.3 %

PGR stock opened at $248.13 on Wednesday. The business’s fifty day moving average price is $246.68 and its two-hundred day moving average price is $245.09. The stock has a market capitalization of $145.35 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.63 and a beta of 0.42. The Progressive Co. has a fifty-two week low of $179.90 and a fifty-two week high of $270.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. On average, equities analysts anticipate that The Progressive Co. will post 14.4 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders 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 yield of 0.16%. Progressive’s dividend payout ratio is currently 2.78%.

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.