Sivia Capital Partners LLC Has $1.53 Million Stock Holdings in The Progressive Corporation $PGR

Sivia Capital Partners LLC boosted its stake in shares of The Progressive Corporation (NYSE:PGR) by 228.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,702 shares of the insurance provider’s stock after purchasing an additional 4,663 shares during the period. Sivia Capital Partners LLC’s holdings in Progressive were worth $1,526,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new position in Progressive during the fourth quarter valued at approximately $28,000. Ameriflex Group Inc. raised its stake in Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after buying an additional 65 shares during the period. Entrust Financial LLC bought a new stake in Progressive in the fourth quarter valued at approximately $33,000. Kingdom Financial Group LLC. bought a new stake in Progressive in the fourth quarter valued at approximately $34,000. Finally, Bangor Savings Bank raised its stake in Progressive by 60.4% in the fourth quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock valued at $35,000 after buying an additional 58 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Progressive from $205.00 to $190.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 31st. UBS Group increased their target price on Progressive from $218.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Royal Bank Of Canada set a $208.00 target price on Progressive in a research note on Friday, May 22nd. Roth Mkm set a $235.00 target price on Progressive in a research note on Thursday, February 19th. Finally, Wells Fargo & Company increased their target price on Progressive from $218.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $238.11.

Insider Transactions at Progressive

In other Progressive news, CAO Carl G. Joyce sold 270 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the sale, the chief accounting officer owned 558 shares of the company’s stock, valued at approximately $115,227. This trade represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Progressive Trading Down 1.7%

Shares of NYSE:PGR opened at $193.54 on Thursday. The company has a market capitalization of $113.09 billion, a P/E ratio of 9.84, a P/E/G ratio of 5.71 and a beta of 0.28. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $288.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The business’s 50 day simple moving average is $199.07 and its 200 day simple moving average is $209.11.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.37 earnings per share. On average, research analysts anticipate that The Progressive Corporation will post 16.33 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is currently 2.03%.

Progressive 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.