The Progressive Co. (NYSE:PGR) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA decreased its stake in shares of The Progressive Co. (NYSE:PGR) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,696 shares of the insurance provider’s stock after selling 819 shares during the period. Everett Harris & Co. CA’s holdings in Progressive were worth $33,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. lifted its stake in shares of Progressive by 21.3% during the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after buying an additional 46 shares during the period. EP Wealth Advisors LLC grew its position in shares of Progressive by 19.8% in the second quarter. EP Wealth Advisors LLC now owns 1,892 shares of the insurance provider’s stock valued at $393,000 after purchasing an additional 313 shares during the period. Cetera Investment Advisers increased its stake in Progressive by 1.8% in the second quarter. Cetera Investment Advisers now owns 68,273 shares of the insurance provider’s stock valued at $14,181,000 after purchasing an additional 1,199 shares during the last quarter. Anchor Investment Management LLC lifted its position in Progressive by 5.5% during the second quarter. Anchor Investment Management LLC now owns 1,021 shares of the insurance provider’s stock worth $212,000 after buying an additional 53 shares during the period. Finally, Abacus Planning Group Inc. purchased a new stake in Progressive in the 3rd quarter valued at about $319,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $2,681,299.09. Following the completion of the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 681 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 $164,870.10. Following the sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by corporate insiders.

Progressive Price Performance

NYSE PGR opened at $246.78 on Friday. The stock has a market capitalization of $144.57 billion, a PE ratio of 17.14, a P/E/G ratio of 0.64 and a beta of 0.41. The stock has a 50-day simple moving average of $247.40 and a 200 day simple moving average of $244.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Progressive Co. has a twelve month low of $176.37 and a twelve month high of $270.62.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 34.32%. Research analysts anticipate that The Progressive Co. will post 14.03 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PGR. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays cut their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets lowered their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Morgan Stanley raised their price objective on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and a consensus target price of $275.71.

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.