Horizon Investments LLC Purchases 1,061 Shares of The Progressive Co. (NYSE:PGR)

Horizon Investments LLC boosted its position in shares of The Progressive Co. (NYSE:PGR) by 12.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,738 shares of the insurance provider’s stock after purchasing an additional 1,061 shares during the quarter. Horizon Investments LLC’s holdings in Progressive were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the last quarter. LRI Investments LLC increased its stake in shares of Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares during the last quarter. SYM FINANCIAL Corp increased its stake in shares of Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 44 shares during the last quarter. Monument Capital Management increased its stake in shares of Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after acquiring an additional 44 shares during the last quarter. Finally, Kelleher Financial Advisors increased its stake in shares of Progressive by 4.7% in the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after acquiring an additional 45 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Keefe, Bruyette & Woods decreased their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research report on Thursday, December 26th. Finally, Roth Mkm boosted their price objective on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $281.76.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 9,066 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 $2,194,878.60. Following the sale, the chief executive officer now owns 473,736 shares in the company, valued at approximately $114,691,485.60. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, 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. In the last quarter, insiders have sold 65,495 shares of company stock worth $16,668,034. Company insiders own 0.34% of the company’s stock.

Progressive Trading Down 2.9 %

Shares of Progressive stock opened at $282.64 on Wednesday. The Progressive Co. has a 12-month low of $201.34 and a 12-month high of $292.99. The stock has a market cap of $165.68 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $259.99 and its 200-day moving average is $254.57.

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 analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities research analysts predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Progressive Company 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.