MRA Advisory Group Has $579,000 Position in The Progressive Co. (NYSE:PGR)

MRA Advisory Group raised its position in The Progressive Co. (NYSE:PGR) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,416 shares of the insurance provider’s stock after buying an additional 158 shares during the quarter. MRA Advisory Group’s holdings in Progressive were worth $579,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Progressive by 1.3% during the 3rd quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock valued at $6,263,763,000 after acquiring an additional 315,411 shares during the period. Geode Capital Management LLC lifted its position in Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after purchasing an additional 1,682,213 shares during the period. FMR LLC grew its stake in Progressive by 1.6% during the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock worth $2,669,204,000 after buying an additional 170,618 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Progressive by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after buying an additional 330,667 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Progressive by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after buying an additional 92,212 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of recent analyst reports. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research note on Tuesday, December 10th. Jefferies Financial Group lifted their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI upped their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.24.

Progressive Trading Up 0.1 %

NYSE PGR opened at $235.84 on Tuesday. The firm has a market capitalization of $138.16 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The business’s 50-day moving average price is $251.23 and its two-hundred day moving average price is $241.78. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 12 month low of $166.92 and a 12 month high of $270.62.

Progressive (NYSE:PGR) last announced its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. On average, analysts expect that The Progressive Co. will post 13.2 EPS for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Insider Buying and Selling

In related news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % 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, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now owns 282,958 shares of the company’s stock, valued at $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,919 shares of company stock valued at $8,222,168 over the last quarter. 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.