5,029 Shares in The Progressive Corporation $PGR Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new position in The Progressive Corporation (NYSE:PGR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 5,029 shares of the insurance provider’s stock, valued at approximately $1,145,000.

Other institutional investors have also recently bought and sold shares of the company. Dagco Inc. bought a new stake in shares of Progressive during the 4th quarter valued at $28,000. Ameriflex Group Inc. raised its position in shares of Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Entrust Financial LLC bought a new stake in shares of Progressive during the 4th quarter valued at $33,000. Kingdom Financial Group LLC. bought a new stake in shares of Progressive during the 4th quarter valued at $34,000. Finally, Bangor Savings Bank raised its position in shares of Progressive by 60.4% during the 4th quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PGR. Wells Fargo & Company upped their target price on shares of Progressive from $218.00 to $222.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Barclays set a $247.00 target price on shares of Progressive in a research report on Wednesday, March 18th. Mizuho dropped their target price on shares of Progressive from $235.00 to $223.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Piper Sandler reiterated an “overweight” rating and set a $259.00 target price on shares of Progressive in a research report on Monday, March 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Progressive in a research report on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $238.11.

Progressive Price Performance

PGR opened at $197.00 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The Progressive Corporation has a 12 month low of $191.75 and a 12 month high of $289.96. The company has a fifty day simple moving average of $200.07 and a 200 day simple moving average of $210.03. The stock has a market cap of $115.12 billion, a P/E ratio of 10.02, a P/E/G ratio of 7.28 and a beta of 0.31.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $23.51 billion. During the same quarter in the prior year, the company earned $4.37 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts expect that The Progressive Corporation will post 16.36 EPS for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.03%.

Insiders Place Their Bets

In related news, CAO Carl G. Joyce sold 270 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $206.50, for a total value of $55,755.00. Following the completion of the sale, the chief accounting officer owned 558 shares in the company, valued at $115,227. This represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. This represents a 9.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,928 shares of company stock valued at $831,251. 0.32% of the stock is owned by corporate insiders.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.