Poinciana Advisors Group LLC Invests $329,000 in The Progressive Co. (NYSE:PGR)

Poinciana Advisors Group LLC acquired a new position in shares of The Progressive Co. (NYSE:PGR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,373 shares of the insurance provider’s stock, valued at approximately $329,000.

Several other large investors have also modified their holdings of the stock. Webster Bank N. A. acquired a new stake in shares of Progressive in the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive during the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Progressive during the fourth quarter valued at $32,000. 85.34% of the stock is owned by institutional investors.

Progressive Price Performance

Shares of NYSE:PGR opened at $283.87 on Friday. The Progressive Co. has a fifty-two week low of $199.57 and a fifty-two week high of $287.49. The business has a 50-day moving average of $258.14 and a two-hundred day moving average of $253.97. The stock has a market capitalization of $166.41 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. On average, equities research analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

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

Analysts Set New Price Targets

PGR has been the topic of a number of research analyst reports. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a report on Friday. Barclays lifted their price target on Progressive from $264.00 to $285.00 and gave the company an “equal weight” rating in a report on Thursday. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group boosted their target price on Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. 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 Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the company’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 value of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This represents a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,257 shares of company stock valued at $15,752,781. Insiders own 0.34% of the company’s stock.

About Progressive

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.