The Progressive Co. (NYSE:PGR) Shares Sold by Sachetta LLC

Sachetta LLC trimmed its position in shares of The Progressive Co. (NYSE:PGR) by 43.5% during the fourth quarter, HoldingsChannel reports. The fund owned 118 shares of the insurance provider’s stock after selling 91 shares during the quarter. Sachetta LLC’s holdings in Progressive were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. boosted its position in shares of Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC boosted its holdings in Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after buying an additional 42 shares in the last quarter. Castleview Partners LLC grew its position in Progressive by 2.7% during the third quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock worth $434,000 after buying an additional 45 shares during the period. Washington Trust Bank increased its holdings in Progressive by 4.6% in the third quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock valued at $260,000 after buying an additional 45 shares in the last quarter. Finally, Kelleher Financial Advisors increased its holdings in Progressive by 4.7% in the fourth quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after buying an additional 45 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of research reports. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Jefferies Financial Group lifted their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a research note on Thursday, December 26th. Finally, BMO Capital Markets dropped their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.65.

Progressive Stock Performance

Progressive stock opened at $238.58 on Friday. The stock has a fifty day moving average price of $248.27 and a 200 day moving average price of $243.31. The Progressive Co. has a 52 week low of $175.50 and a 52 week high of $270.62. The firm has a market capitalization of $139.76 billion, a P/E ratio of 17.34, a PEG ratio of 0.62 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.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s payout ratio is currently 2.91%.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,506 shares of company stock valued at $10,531,159. Insiders own 0.34% of the company’s stock.

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.