U.S. Capital Wealth Advisors LLC Trims Position in The Progressive Co. (NYSE:PGR)

U.S. Capital Wealth Advisors LLC cut its holdings in shares of The Progressive Co. (NYSE:PGR) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,426 shares of the insurance provider’s stock after selling 419 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Progressive were worth $546,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PGR. Compass Ion Advisors LLC increased its holdings in shares of Progressive by 0.8% during the fourth quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock valued at $1,186,000 after acquiring an additional 59 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Progressive by 10.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 670 shares of the insurance provider’s stock valued at $93,000 after acquiring an additional 62 shares in the last quarter. Quent Capital LLC boosted its position in shares of Progressive by 19.3% during the fourth quarter. Quent Capital LLC now owns 427 shares of the insurance provider’s stock valued at $68,000 after buying an additional 69 shares during the last quarter. BSW Wealth Partners boosted its position in shares of Progressive by 4.2% during the fourth quarter. BSW Wealth Partners now owns 1,727 shares of the insurance provider’s stock valued at $275,000 after buying an additional 69 shares during the last quarter. Finally, Invesco LLC boosted its position in shares of Progressive by 2.0% during the fourth quarter. Invesco LLC now owns 3,537 shares of the insurance provider’s stock valued at $563,000 after buying an additional 70 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Progressive news, insider Patrick K. Callahan sold 29,675 shares of Progressive stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the sale, the insider now owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Devin C. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Patrick K. Callahan sold 29,675 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the transaction, the insider now directly owns 15,189 shares in the company, valued at approximately $2,889,859.14. The disclosure for this sale can be found here. Insiders have sold a total of 39,139 shares of company stock valued at $7,458,139 in the last quarter. 0.34% of the stock is currently owned by insiders.

Progressive Stock Up 3.3 %

Shares of PGR opened at $215.51 on Tuesday. The business’s 50 day moving average is $204.74 and its 200 day moving average is $180.31. The company has a market capitalization of $126.22 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 0.82 and a beta of 0.34. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $216.21. The company has a current ratio of 0.36, a quick ratio of 0.31 and a debt-to-equity ratio of 0.32.

Progressive (NYSE:PGR) last released its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The business had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. Research analysts expect that The Progressive Co. will post 11.34 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, April 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Wednesday, April 3rd. Progressive’s payout ratio is 4.09%.

Wall Street Analyst Weigh In

PGR has been the topic of several recent analyst reports. Bank of America dropped their price objective on Progressive from $279.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods raised their target price on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. HSBC raised their target price on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Citigroup raised their target price on Progressive from $202.00 to $225.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Roth Mkm raised their target price on Progressive from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $211.88.

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.