Foundations Investment Advisors LLC Has $657,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Foundations Investment Advisors LLC lifted its position in shares of The Progressive Co. (NYSE:PGR) by 227.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,742 shares of the insurance provider’s stock after acquiring an additional 1,905 shares during the period. Foundations Investment Advisors LLC’s holdings in Progressive were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PGR. Davis Capital Management acquired a new position in shares of Progressive during the 3rd quarter worth $25,000. Webster Bank N. A. acquired a new position in Progressive during the fourth quarter worth about $26,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Progressive by 114.1% in the third 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 last quarter. Kimelman & Baird LLC acquired a new stake in shares of Progressive in the 2nd quarter valued at approximately $36,000. Finally, Friedenthal Financial bought a new stake in shares of Progressive during the 3rd quarter valued at approximately $49,000. 85.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction that occurred on 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 owns 473,736 shares of the company’s stock, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,506 shares of company stock worth $10,531,159 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Progressive Price Performance

PGR stock opened at $246.25 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market cap of $144.26 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.62 and a beta of 0.41. The company’s fifty day simple moving average is $247.89 and its 200 day simple moving average is $244.25. The Progressive Co. has a 12-month low of $175.50 and a 12-month high of $270.62.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, analysts expect that The Progressive Co. will post 13.51 earnings per share for the current year.

Progressive Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen lifted their price target on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group upped their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $274.65.

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.