The Progressive Co. (NYSE:PGR) Shares Acquired by One Plus One Wealth Management LLC

One Plus One Wealth Management LLC grew its position in The Progressive Co. (NYSE:PGR) by 16.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,452 shares of the insurance provider’s stock after buying an additional 203 shares during the quarter. One Plus One Wealth Management LLC’s holdings in Progressive were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sycomore Asset Management grew its stake in Progressive by 42.8% during the 4th quarter. Sycomore Asset Management now owns 51,770 shares of the insurance provider’s stock worth $13,066,000 after purchasing an additional 15,512 shares in the last quarter. Vivid Wealth Management LLC acquired a new position in Progressive during the 4th quarter worth $2,143,000. Van ECK Associates Corp grew its stake in Progressive by 3.4% during the 4th quarter. Van ECK Associates Corp now owns 16,199 shares of the insurance provider’s stock worth $3,881,000 after purchasing an additional 527 shares in the last quarter. Allstate Corp acquired a new position in Progressive during the 4th quarter worth $4,205,000. Finally, Baird Financial Group Inc. grew its stake in Progressive by 3.1% during the 4th quarter. Baird Financial Group Inc. now owns 3,667,903 shares of the insurance provider’s stock worth $878,866,000 after purchasing an additional 111,659 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.4%

Shares of NYSE PGR opened at $279.19 on Friday. The stock has a market cap of $163.67 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. 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 Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. The business has a 50-day moving average price of $276.19 and a 200 day moving average price of $264.49.

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

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Progressive’s dividend payout ratio (DPR) is presently 2.70%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PGR shares. Morgan Stanley set a $330.00 target price on Progressive and gave the stock an “overweight” rating in a research note on Monday, May 19th. Barclays boosted their target price on Progressive from $285.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. Bank of America raised Progressive from a “neutral” rating to a “buy” rating and set a $312.00 price target for the company in a report on Monday, April 28th. BMO Capital Markets lifted their price target on Progressive from $282.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $288.00 price target on shares of Progressive in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $288.59.

Insider Activity at Progressive

In other Progressive news, CFO John P. Sauerland sold 1,542 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $282.66, for a total transaction of $435,861.72. Following the completion of the sale, the chief financial officer now directly owns 268,024 shares of the company’s stock, valued at $75,759,663.84. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Broz sold 1,267 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $277.81, for a total value of $351,985.27. Following the sale, the insider now directly owns 28,888 shares of the company’s stock, valued at approximately $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $10,367,074 in the last three months. 0.34% of the stock is currently owned by company insiders.

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.