The Progressive Co. (NYSE:PGR) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC grew its position in shares of The Progressive Co. (NYSE:PGR) by 8.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,668 shares of the insurance provider’s stock after buying an additional 1,057 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Progressive were worth $3,274,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in PGR. Webster Bank N. A. purchased a new position in Progressive during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive during the fourth quarter worth approximately $28,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 41 shares during the last quarter. Valley National Advisers Inc. increased its holdings in shares of Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 120 shares during the period. Finally, Atala Financial Inc purchased a new stake in Progressive in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Up 2.0 %

PGR opened at $286.78 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The company has a market cap of $168.12 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.70 and a beta of 0.38. The Progressive Co. has a one year low of $201.34 and a one year high of $292.99. The business’s fifty day moving average is $268.77 and its two-hundred day moving average is $256.73.

Progressive (NYSE:PGR) last released its quarterly earnings data 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 anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive’s dividend payout ratio is presently 2.78%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Bank of America reduced their price objective on Progressive from $318.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. UBS Group lifted their target price on Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $281.06.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $2,681,299.09. Following the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mariann Wojtkun Marshall sold 585 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $142,324.65. Following the sale, the chief accounting officer now directly owns 3,983 shares in the company, valued at $969,024.07. This represents a 12.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,317 shares of company stock valued at $14,844,282 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.