Wealth Enhancement Advisory Services LLC Raises Holdings in The Progressive Corporation $PGR

Wealth Enhancement Advisory Services LLC lifted its position in The Progressive Corporation (NYSE:PGR) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 433,312 shares of the insurance provider’s stock after purchasing an additional 94,314 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Progressive were worth $92,004,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its position in Progressive by 30.2% during the third quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock valued at $25,381,000 after purchasing an additional 23,833 shares during the last quarter. Allstate Corp grew its stake in shares of Progressive by 1,614.1% in the 3rd quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock worth $5,334,000 after buying an additional 20,338 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Progressive by 91.7% in the 3rd quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock worth $2,892,000 after buying an additional 5,600 shares during the last quarter. Mather Group LLC. raised its position in shares of Progressive by 40.6% during the 3rd quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock valued at $4,159,000 after buying an additional 4,865 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Progressive by 471.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider’s stock valued at $5,556,000 after acquiring an additional 18,558 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Progressive news, CAO Carl G. Joyce sold 141 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $29,892.00. Following the sale, the chief accounting officer owned 828 shares in the company, valued at $175,536. This trade represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the sale, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,417 shares of company stock worth $2,357,289 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Bank of America kept a “buy” rating and, despite trimming its target slightly to $305, still implies substantial upside — a supporting factor for the stock. Progressive had its price target lowered by Bank of America Corporation from $308.00 to $305.00
• Positive Sentiment: Wells Fargo raised its target to $217 and maintained an “equal weight” view, a modest positive signal that offsets some downgrades. Wells Fargo raised its price target on Progressive
• Neutral Sentiment: Progressive is getting increased attention from retail and news platforms; Zacks flagged PGR as a “trending” stock, which can drive short-term volume and volatility but doesn’t change fundamentals. The Progressive Corporation (PGR) Is a Trending Stock
• Neutral Sentiment: Recent media noted intraday moves in PGR (short-term price swings); useful for traders but not necessarily indicative of a lasting trend. Progressive (PGR) stock moves -1.29%: What you should know
• Negative Sentiment: Mizuho cut its target to $223 and moved to “neutral,” trimming upside expectations and applying downward pressure. Progressive had its price target lowered by Mizuho from $235.00 to $223.00
• Negative Sentiment: Barclays downgraded PGR from “strong-buy” to “hold,” reducing buy-side conviction and potentially limiting near-term gains. Progressive was downgraded by Barclays PLC from “strong-buy” to “hold”
• Negative Sentiment: Keefe, Bruyette & Woods trimmed its target to $227 and set a “market perform” rating, another modest drag on sentiment. Progressive had its price target lowered by Keefe, Bruyette & Woods
• Neutral Sentiment: An unrelated biotech update (Zenas BioPharma) appeared in the feed but has no material bearing on Progressive’s insurance business. Zenas BioPharma Advances Phase 3 Orelabrutinib Trial

Wall Street Analysts Forecast Growth

Several research firms recently commented on PGR. Bank of America dropped their price target on Progressive from $308.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group set a $216.00 price objective on Progressive in a research report on Wednesday, February 11th. JPMorgan Chase & Co. lowered their price objective on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. William Blair downgraded Progressive from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, Citigroup cut their target price on Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $239.72.

Progressive Stock Up 1.6%

Shares of NYSE PGR opened at $205.93 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $120.66 billion, a P/E ratio of 10.70, a PEG ratio of 6.49 and a beta of 0.33. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $289.96. The firm has a 50-day simple moving average of $206.07 and a two-hundred day simple moving average of $220.80.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive’s dividend payout ratio is presently 2.08%.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.