Nemes Rush Group LLC Acquires 607 Shares of The Progressive Co. (NYSE:PGR)

Nemes Rush Group LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 305.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 806 shares of the insurance provider’s stock after buying an additional 607 shares during the quarter. Nemes Rush Group LLC’s holdings in Progressive were worth $193,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC lifted its stake in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC grew its stake in Progressive by 16.5% in the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares in the last quarter. Washington Trust Bank grew its holdings in Progressive by 4.1% during the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 42 shares in the last quarter. SYM FINANCIAL Corp increased its holdings in Progressive by 2.8% during the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after buying an additional 44 shares during the period. Finally, Monument Capital Management increased its holdings 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 period. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Up 0.4 %

Progressive stock opened at $284.16 on Wednesday. The firm has a market capitalization of $166.58 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.70 and a beta of 0.35. The stock’s fifty day simple moving average is $266.98 and its 200-day simple moving average is $256.35. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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

Insider Buying and Selling at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. The trade was a 4.58 % 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, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $275.94, for a total transaction of $2,759,400.00. Following the completion of the transaction, the chief financial officer now owns 258,024 shares in the company, valued at $71,199,142.56. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,255 shares of company stock valued at $17,250,271. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays raised their target price on Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 13th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research report on Tuesday, December 10th. UBS Group increased their target price on Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Roth Mkm boosted their price target on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $281.06.

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.