Park Place Capital Corp Acquires 1,107 Shares of The Progressive Co. (NYSE:PGR)

Park Place Capital Corp lifted its holdings in The Progressive Co. (NYSE:PGR) by 23.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,813 shares of the insurance provider’s stock after purchasing an additional 1,107 shares during the period. Park Place Capital Corp’s holdings in Progressive were worth $1,393,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Davis Capital Management bought a new stake in Progressive during the 3rd quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. raised its stake in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the period. Kimelman & Baird LLC bought a new stake in Progressive during the 2nd quarter worth approximately $36,000. Friedenthal Financial bought a new stake in Progressive during the 3rd quarter worth approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Progressive during the 3rd quarter worth approximately $49,000. Institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PGR shares. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a report on Tuesday, December 10th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Evercore ISI increased their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.65.

Insider Activity at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the sale, the chief financial officer now owns 282,958 shares in the company, valued at $67,530,756.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,938 shares of company stock worth $7,473,490 over the last three months. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Down 0.4 %

NYSE PGR opened at $239.96 on Wednesday. The Progressive Co. has a 52 week low of $169.57 and a 52 week high of $270.62. The firm has a market capitalization of $140.57 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.63 and a beta of 0.41. The company has a fifty day moving average of $249.42 and a two-hundred day moving average of $243.16. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued 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 0.17%. Progressive’s 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.