The Progressive Co. (NYSE:PGR) Stock Position Raised by Shelton Wealth Management LLC

Shelton Wealth Management LLC lifted its position in shares of The Progressive Co. (NYSE:PGR) by 5.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,846 shares of the insurance provider’s stock after acquiring an additional 209 shares during the period. Shelton Wealth Management LLC’s holdings in Progressive were worth $922,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PGR. Geode Capital Management LLC increased its position in shares of Progressive by 13.2% during the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after purchasing an additional 1,682,213 shares during the period. Jennison Associates LLC grew its holdings in Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Progressive by 75.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after acquiring an additional 641,943 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after acquiring an additional 594,330 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Progressive by 206.8% during the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after purchasing an additional 590,235 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PGR has been the topic of a number of recent analyst reports. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research report on Tuesday, December 10th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a research note on Thursday, December 26th. Barclays dropped 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 note on Monday, January 6th. BMO Capital Markets reduced their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. increased their price objective on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average target price of $275.24.

Insider Buying and Selling

In other news, CEO Susan Patricia Griffith sold 9,066 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 $2,194,878.60. Following the completion of the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 32,919 shares of company stock valued at $8,222,168 over the last three months. Company insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.7 %

PGR opened at $243.79 on Friday. 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 PE ratio of 17.72, a PEG ratio of 0.61 and a beta of 0.41. 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 firm has a 50-day moving average price of $250.53 and a two-hundred day moving average price of $242.03.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The firm had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. As a group, equities analysts anticipate that The Progressive Co. will post 13.52 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

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.