Journey Strategic Wealth LLC Sells 359 Shares of The Progressive Co. (NYSE:PGR)

Journey Strategic Wealth LLC decreased its position in shares of The Progressive Co. (NYSE:PGR) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,099 shares of the insurance provider’s stock after selling 359 shares during the period. Journey Strategic Wealth LLC’s holdings in Progressive were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PGR. SYM FINANCIAL Corp raised its position in Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 44 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Progressive by 7.1% during the fourth quarter. DAVENPORT & Co LLC now owns 4,935 shares of the insurance provider’s stock valued at $1,161,000 after buying an additional 328 shares during the last quarter. Tritonpoint Wealth LLC raised its holdings in shares of Progressive by 12.8% in the fourth quarter. Tritonpoint Wealth LLC now owns 1,705 shares of the insurance provider’s stock worth $409,000 after buying an additional 194 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Progressive by 1.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 93,343 shares of the insurance provider’s stock worth $22,366,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Q3 Asset Management grew its position in Progressive by 7.3% in the 4th quarter. Q3 Asset Management now owns 11,772 shares of the insurance provider’s stock valued at $2,820,000 after acquiring an additional 799 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insiders Place Their Bets

In other Progressive 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lori A. Niederst sold 3,855 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the transaction, the insider now owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,361 shares of company stock valued at $13,983,575. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $246.78 on Monday. 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 company has a market cap of $144.57 billion, a PE ratio of 17.14, a PEG ratio of 0.64 and a beta of 0.41. The Progressive Co. has a 12-month low of $176.37 and a 12-month high of $270.62. The business’s fifty day simple moving average is $247.01 and its 200-day simple moving average is $244.75.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 34.32% and a net margin of 11.25%. Analysts expect that The Progressive Co. will post 14.03 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PGR shares. Bank of America boosted their target price on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets lowered their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $275.71.

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.