Coldstream Capital Management Inc. Boosts Stake in The Progressive Co. (NYSE:PGR)

Coldstream Capital Management Inc. raised its position in The Progressive Co. (NYSE:PGR) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,147 shares of the insurance provider’s stock after buying an additional 1,239 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Progressive were worth $2,911,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Two Sigma Securities LLC grew its stake in Progressive by 164.2% during the fourth quarter. Two Sigma Securities LLC now owns 2,055 shares of the insurance provider’s stock worth $492,000 after buying an additional 5,255 shares during the period. Nebula Research & Development LLC acquired a new stake in Progressive in the 4th quarter valued at $3,779,000. Kovitz Investment Group Partners LLC raised its position in Progressive by 90.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 188,107 shares of the insurance provider’s stock valued at $45,072,000 after purchasing an additional 89,145 shares during the period. Voya Investment Management LLC lifted its stake in shares of Progressive by 7.3% during the fourth quarter. Voya Investment Management LLC now owns 279,853 shares of the insurance provider’s stock worth $67,056,000 after purchasing an additional 19,076 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Progressive by 18.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 27,105 shares of the insurance provider’s stock worth $6,495,000 after buying an additional 4,314 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group reduced their price target on Progressive from $327.00 to $319.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Morgan Stanley boosted their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Roth Mkm raised their price target on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $267.00 to $287.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Finally, Bank of America boosted their price target on Progressive from $289.00 to $297.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.76.

Progressive Stock Down 0.0 %

Shares of NYSE:PGR opened at $265.11 on Friday. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99. The company’s fifty day moving average is $274.12 and its two-hundred day moving average is $258.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The stock has a market capitalization of $155.42 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The firm had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. Equities analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s payout ratio is currently 2.70%.

Insiders Place Their Bets

In other Progressive news, Director Jeffrey D. Kelly sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $250.00, for a total value of $2,500,000.00. Following the completion of the transaction, the director now owns 27,741 shares in the company, valued at approximately $6,935,250. This represents a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Carl G. Joyce sold 360 shares of Progressive stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $276.17, for a total value of $99,421.20. Following the sale, the chief accounting officer now directly owns 655 shares in the company, valued at approximately $180,891.35. This trade represents a 35.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,749 shares of company stock valued at $11,786,613 over the last three months. Company insiders own 0.33% 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.