Simon Quick Advisors LLC Acquires 182 Shares of The Progressive Co. (NYSE:PGR)

Simon Quick Advisors LLC lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,983 shares of the insurance provider’s stock after buying an additional 182 shares during the quarter. Simon Quick Advisors LLC’s holdings in Progressive were worth $954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Enclave Advisors LLC purchased a new position in shares of Progressive during the fourth quarter valued at approximately $236,000. Atomi Financial Group Inc. lifted its stake in Progressive by 5.7% during the 4th quarter. Atomi Financial Group Inc. now owns 5,089 shares of the insurance provider’s stock valued at $1,219,000 after acquiring an additional 274 shares in the last quarter. Transform Wealth LLC purchased a new position in Progressive during the 4th quarter worth $5,799,000. Chesley Taft & Associates LLC grew its stake in shares of Progressive by 0.4% in the 4th quarter. Chesley Taft & Associates LLC now owns 12,790 shares of the insurance provider’s stock worth $3,065,000 after acquiring an additional 55 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Progressive by 11.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 103,583 shares of the insurance provider’s stock valued at $24,819,000 after purchasing an additional 10,734 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PGR shares. Evercore ISI lifted their target price on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America lifted their price target on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. JPMorgan Chase & Co. lifted their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, BMO Capital Markets reduced their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $274.65.

Progressive Stock Down 0.8 %

PGR stock opened at $239.13 on Thursday. The business’s 50-day moving average price is $249.42 and its 200-day moving average price is $243.16. The stock has a market cap of $140.08 billion, a P/E ratio of 17.38, a PEG ratio of 0.63 and a beta of 0.41. The Progressive Co. has a twelve month low of $169.57 and a twelve month high of $270.62. 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 business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date 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 is currently 2.91%.

Insiders Place Their Bets

In other news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Monday, December 30th. The shares were 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 of the company’s stock, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew J. Quigg sold 681 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 transaction of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,938 shares of company stock worth $7,473,490 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

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.