The Progressive Co. (NYSE:PGR) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its stake in The Progressive Co. (NYSE:PGR) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 96,084 shares of the insurance provider’s stock after purchasing an additional 310 shares during the period. Orion Portfolio Solutions LLC’s holdings in Progressive were worth $15,889,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Sachetta LLC bought a new position in shares of Progressive in the 4th quarter worth about $25,000. Valley National Advisers Inc. boosted its stake 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 during the period. Pinnacle Bancorp Inc. acquired a new position in Progressive in the fourth quarter valued at approximately $39,000. Criterion Capital Advisors LLC bought a new position in shares of Progressive during the fourth quarter valued at approximately $47,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Progressive during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, insider Karen Bailo sold 8,464 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the transaction, the insider now directly owns 32,342 shares in the company, valued at approximately $6,128,485.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total transaction of $208,330.00. Following the completion of the sale, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karen Bailo sold 8,464 shares of Progressive stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the transaction, the insider now owns 32,342 shares in the company, valued at approximately $6,128,485.58. The disclosure for this sale can be found here. Insiders have sold a total of 16,825 shares of company stock valued at $3,337,741 in the last three months. 0.34% of the stock is currently owned by company insiders.

Progressive Trading Up 0.4 %

Shares of NYSE PGR traded up $0.73 during mid-day trading on Friday, hitting $203.91. 1,721,272 shares of the company traded hands, compared to its average volume of 2,403,198. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The Progressive Co. has a 1 year low of $111.41 and a 1 year high of $217.77. The stock has a market capitalization of $119.43 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.78 and a beta of 0.34. The business has a 50 day moving average of $208.92 and a two-hundred day moving average of $185.22.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. The company had revenue of $18.96 billion during the quarter, compared to analyst estimates of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, sell-side analysts anticipate that The Progressive Co. will post 11.63 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Wednesday, July 3rd. Progressive’s payout ratio is 4.09%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PGR. Keefe, Bruyette & Woods raised their price target on shares of Progressive from $190.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Roth Mkm lifted their target price on Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Bank of America increased their price target on Progressive from $279.00 to $286.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. The Goldman Sachs Group boosted their price target on shares of Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. Finally, Jefferies Financial Group increased their price objective on shares of Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $215.19.

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.