Lindenwold Advisors INC Sells 506 Shares of The Progressive Co. (NYSE:PGR)

Lindenwold Advisors INC reduced its position in shares of The Progressive Co. (NYSE:PGR) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,952 shares of the insurance provider’s stock after selling 506 shares during the quarter. Progressive accounts for about 1.5% of Lindenwold Advisors INC’s investment portfolio, making the stock its 16th biggest holding. Lindenwold Advisors INC’s holdings in Progressive were worth $2,864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PGR. GM Advisory Group LLC purchased a new stake in shares of Progressive during the 4th quarter valued at about $571,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Progressive by 1.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,591 shares of the insurance provider’s stock valued at $1,579,000 after acquiring an additional 103 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Progressive by 2.5% during the 4th quarter. Xponance Inc. now owns 128,693 shares of the insurance provider’s stock valued at $30,836,000 after acquiring an additional 3,156 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Progressive during the 4th quarter valued at about $16,644,000. Finally, Evoke Wealth LLC boosted its holdings in shares of Progressive by 21.7% during the 4th quarter. Evoke Wealth LLC now owns 1,442 shares of the insurance provider’s stock valued at $345,000 after acquiring an additional 257 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Trading Down 2.9 %

Progressive stock opened at $282.64 on Wednesday. The stock has a market cap of $165.68 billion, a P/E ratio of 19.63, a PEG ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The firm’s 50 day moving average price is $259.99 and its 200-day moving average price is $254.57.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities analysts predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s payout ratio is currently 2.78%.

Analyst Ratings Changes

PGR has been the topic of a number of recent analyst reports. Roth Mkm raised their price target on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Barclays raised their price objective on shares of Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, March 13th. UBS Group raised their price objective on shares of Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Bank of America dropped their price objective on shares of Progressive from $333.00 to $318.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Wells Fargo & Company raised their price objective on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.76.

Insider Activity

In related news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the sale, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the sale, the chief executive officer now owns 473,736 shares in the company, valued at $115,255,231.44. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,495 shares of company stock worth $16,668,034 over the last quarter. Insiders own 0.34% of the company’s stock.

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.