BankPlus Wealth Management LLC acquired a new position in The Progressive Co. (NYSE:PGR – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,788 shares of the insurance provider’s stock, valued at approximately $908,000. Progressive makes up 0.7% of BankPlus Wealth Management LLC’s holdings, making the stock its 24th largest holding.
Other large investors also recently added to or reduced their stakes in the company. Nilsine Partners LLC raised its holdings in shares of Progressive by 1.0% in the 4th quarter. Nilsine Partners LLC now owns 5,624 shares of the insurance provider’s stock valued at $1,348,000 after acquiring an additional 56 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of Progressive by 227.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,742 shares of the insurance provider’s stock worth $657,000 after purchasing an additional 1,905 shares during the last quarter. Webster Bank N. A. purchased a new stake in Progressive in the fourth quarter valued at approximately $26,000. Cornerstone Wealth Group LLC lifted its position in Progressive by 8.6% during the fourth quarter. Cornerstone Wealth Group LLC now owns 995 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 79 shares during the last quarter. Finally, KBC Group NV grew its stake in Progressive by 9.5% in the 4th quarter. KBC Group NV now owns 439,305 shares of the insurance provider’s stock worth $105,261,000 after buying an additional 38,126 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.
Progressive Stock Performance
Progressive stock opened at $246.83 on Tuesday. 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 market cap of $144.60 billion, a P/E ratio of 17.94, a P/E/G ratio of 0.62 and a beta of 0.41. The Progressive Co. has a 1-year low of $175.50 and a 1-year high of $270.62. The firm has a 50-day moving average of $248.27 and a 200-day moving average of $243.79.
Progressive Announces Dividend
Insider Transactions at Progressive
In other news, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $2,681,299.09. Following the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,506 shares of company stock valued at $10,531,159. Company insiders own 0.34% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on PGR shares. Jefferies Financial Group raised their price objective on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price objective on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Barclays dropped their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $274.65.
Read Our Latest Stock Report on PGR
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.
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