The Progressive Co. (NYSE:PGR) Shares Bought by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,790 shares of the insurance provider’s stock after buying an additional 55 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Progressive were worth $3,065,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. raised its holdings in shares of Progressive by 11.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 103,583 shares of the insurance provider’s stock worth $24,819,000 after purchasing an additional 10,734 shares during the last quarter. Martel Wealth Advisors Inc acquired a new stake in Progressive during the 4th quarter worth about $479,000. CMH Wealth Management LLC purchased a new position in shares of Progressive during the 4th quarter valued at about $278,000. Mechanics Bank Trust Department lifted its holdings in shares of Progressive by 79.2% in the 4th quarter. Mechanics Bank Trust Department now owns 2,039 shares of the insurance provider’s stock valued at $489,000 after buying an additional 901 shares during the period. Finally, Diversify Wealth Management LLC boosted its stake in shares of Progressive by 2.8% in the fourth quarter. Diversify Wealth Management LLC now owns 13,512 shares of the insurance provider’s stock worth $3,184,000 after buying an additional 364 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Performance

PGR opened at $243.79 on Tuesday. The firm has a market capitalization of $142.82 billion, a PE ratio of 17.72, a PEG ratio of 0.64 and a beta of 0.41. 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 Progressive Co. has a twelve month low of $166.92 and a twelve month high of $270.62. The firm’s 50-day moving average price is $249.85 and its 200 day moving average price is $242.95.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio is presently 2.91%.

Analyst Upgrades and Downgrades

PGR has been the subject of several recent research reports. Bank of America lifted their price target on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price on shares of Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. raised their price target on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a report on Tuesday, December 10th. Finally, Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.24.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now owns 292,958 shares in the company, valued at $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,938 shares of company stock worth $7,473,490. 0.34% of the stock is owned by corporate insiders.

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.