1,312 Shares in The Progressive Co. (NYSE:PGR) Purchased by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. acquired a new position in The Progressive Co. (NYSE:PGR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,312 shares of the insurance provider’s stock, valued at approximately $209,000.

Other large investors have also recently made changes to their positions in the company. Valley National Advisers Inc. boosted its holdings in Progressive by 143.6% in the fourth quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 112 shares in the last quarter. Arlington Trust Co LLC purchased a new position in shares of Progressive during the third quarter valued at about $36,000. Pinnacle Bancorp Inc. bought a new position in Progressive in the fourth quarter worth about $39,000. Criterion Capital Advisors LLC purchased a new stake in Progressive in the fourth quarter worth about $47,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Progressive during the 4th quarter worth approximately $48,000. 85.34% of the stock is currently owned by institutional investors.

Insider Transactions at Progressive

In other Progressive news, Director Devin C. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the transaction, the director now directly owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Devin C. Johnson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the sale, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The disclosure for this sale can be found here. Insiders have sold a total of 39,139 shares of company stock worth $7,458,139 in the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive Price Performance

PGR opened at $206.67 on Tuesday. The company’s 50-day simple moving average is $202.80 and its two-hundred day simple moving average is $178.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36. The stock has a market capitalization of $121.05 billion, a P/E ratio of 21.15, a P/E/G ratio of 0.82 and a beta of 0.35. The Progressive Co. has a 52-week low of $111.41 and a 52-week high of $216.21.

Progressive (NYSE:PGR) last released its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts predict that The Progressive Co. will post 11.34 EPS for the current year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. Progressive’s payout ratio is 4.09%.

Wall Street Analyst Weigh In

PGR has been the subject of a number of research analyst reports. Jefferies Financial Group raised their target price on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Roth Mkm raised their price objective on Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Citigroup increased their price target on shares of Progressive from $202.00 to $225.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. HSBC boosted their price objective on shares of Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Finally, UBS Group boosted their price target on Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $211.88.

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.