The Progressive Co. (NYSE:PGR) Shares Acquired by Signaturefd LLC

Signaturefd LLC increased its position in shares of The Progressive Co. (NYSE:PGR) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,300 shares of the insurance provider’s stock after purchasing an additional 1,282 shares during the quarter. Signaturefd LLC’s holdings in Progressive were worth $2,544,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Sachetta LLC acquired a new position in shares of Progressive during the 4th quarter worth $25,000. Northwest Bank & Trust Co purchased a new position in shares of Progressive during the 4th quarter worth approximately $25,000. Valley National Advisers Inc. raised its position in shares of Progressive by 143.6% during the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 112 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new stake in Progressive in the 1st quarter valued at approximately $32,000. Finally, Register Financial Advisors LLC acquired a new stake in Progressive during the 1st quarter valued at $35,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Trading Up 0.3 %

Shares of NYSE:PGR traded up $0.67 during trading on Thursday, reaching $210.66. 609,914 shares of the stock were exchanged, compared to its average volume of 2,553,818. The firm’s 50-day moving average price is $209.42 and its 200 day moving average price is $196.61. The firm has a market cap of $123.38 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 0.81 and a beta of 0.35. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $217.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 0.32.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $16.88 billion. During the same period in the previous year, the company posted $0.65 earnings per share. Progressive’s revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Progressive Co. will post 11.26 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, July 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a yield of 0.19%. Progressive’s dividend payout ratio is currently 4.09%.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price target on shares of Progressive from $243.00 to $254.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Morgan Stanley cut their price objective on shares of Progressive from $256.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Citigroup raised their target price on shares of Progressive from $230.00 to $232.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Finally, HSBC increased their price target on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $218.50.

Insider Buying and Selling at Progressive

In other Progressive news, insider Steven Broz sold 7,361 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $207.25, for a total value of $1,525,567.25. Following the completion of the transaction, the insider now owns 35,503 shares in the company, valued at approximately $7,357,996.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Steven Broz sold 7,361 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $207.25, for a total transaction of $1,525,567.25. Following the completion of the sale, the insider now directly owns 35,503 shares in the company, valued at $7,357,996.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 12,457 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $204.43, for a total value of $2,546,584.51. Following the completion of the transaction, the chief financial officer now directly owns 312,958 shares of the company’s stock, valued at approximately $63,978,003.94. The disclosure for this sale can be found here. Insiders have sold 34,518 shares of company stock valued at $7,159,674 over the last three months. 0.34% of the stock is owned by company 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.