Rowlandmiller & PARTNERS.ADV Reduces Holdings in The Progressive Co. (NYSE:PGR)

Rowlandmiller & PARTNERS.ADV lowered its stake in shares of The Progressive Co. (NYSE:PGR) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,040 shares of the insurance provider’s stock after selling 3,959 shares during the quarter. Progressive comprises 5.8% of Rowlandmiller & PARTNERS.ADV’s holdings, making the stock its 2nd largest holding. Rowlandmiller & PARTNERS.ADV’s holdings in Progressive were worth $27,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 391 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after acquiring an additional 3,720 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after acquiring an additional 330,667 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Progressive by 2,262.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock worth $103,990,000 after acquiring an additional 415,628 shares in the last quarter. Finally, Signal Advisors Wealth LLC boosted its holdings in Progressive by 42.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider’s stock worth $2,849,000 after acquiring an additional 3,534 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Down 0.6 %

Progressive stock opened at $265.99 on Monday. The stock has a market capitalization of $155.82 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. The Progressive Co. has a 12 month low of $186.94 and a 12 month high of $270.79. The business has a 50 day simple moving average of $246.89 and a 200-day simple moving average of $249.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last posted its quarterly earnings data 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 33.79% and a net margin of 11.25%. On average, analysts anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Analysts Set New Price Targets

PGR has been the subject of several research analyst reports. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Evercore ISI raised their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised their price objective on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company raised their price objective on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and thirteen have issued 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 a consensus target price of $276.12.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lori A. Niederst sold 3,855 shares of Progressive stock in a transaction that occurred on 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 sale, the insider now directly owns 39,040 shares in the company, valued at $9,645,222.40. This represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last three months. 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.