The Progressive Co. (NYSE:PGR) Shares Sold by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC decreased its holdings in The Progressive Co. (NYSE:PGR) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,482 shares of the insurance provider’s stock after selling 342 shares during the quarter. Progressive makes up 0.6% of ForthRight Wealth Management LLC’s portfolio, making the stock its 26th biggest position. ForthRight Wealth Management LLC’s holdings in Progressive were worth $1,793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Albion Financial Group UT grew its holdings in Progressive by 5.3% during the 4th quarter. Albion Financial Group UT now owns 1,137 shares of the insurance provider’s stock worth $272,000 after acquiring an additional 57 shares in the last quarter. Advisory Alpha LLC lifted its position in shares of Progressive by 13.6% during the fourth quarter. Advisory Alpha LLC now owns 936 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 112 shares during the last quarter. MBM Wealth Consultants LLC increased its holdings in Progressive by 3.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 6,061 shares of the insurance provider’s stock valued at $1,458,000 after buying an additional 188 shares during the last quarter. Dakota Wealth Management increased its holdings in Progressive by 3.1% in the fourth quarter. Dakota Wealth Management now owns 126,270 shares of the insurance provider’s stock valued at $30,256,000 after buying an additional 3,774 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Progressive by 16.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 223,734 shares of the insurance provider’s stock valued at $53,609,000 after buying an additional 31,390 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive 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 transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares in the company, valued at $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,938 shares of company stock valued at $7,473,490. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PGR shares. Wells Fargo & Company boosted their price target on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a report on Monday, December 16th. JPMorgan Chase & Co. increased their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. BMO Capital Markets decreased their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Keefe, Bruyette & Woods dropped their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Barclays decreased their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.65.

Progressive Stock Down 1.2 %

PGR stock opened at $240.64 on Wednesday. The firm’s 50-day moving average is $249.42 and its two-hundred day moving average is $243.16. The company has a market capitalization of $140.97 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. The Progressive Co. has a 52 week low of $169.57 and a 52 week high of $270.62. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders 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 dividend on an annualized basis and a yield of 0.17%. Progressive’s dividend payout ratio (DPR) is 2.91%.

Progressive Company 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.