GeoWealth Management LLC Has $1.44 Million Stock Position in The Progressive Co. (NYSE:PGR)

GeoWealth Management LLC decreased its position in shares of The Progressive Co. (NYSE:PGR) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,019 shares of the insurance provider’s stock after selling 228 shares during the quarter. GeoWealth Management LLC’s holdings in Progressive were worth $1,442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Webster Bank N. A. bought a new stake in shares of Progressive during the fourth quarter worth $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 120 shares during the last quarter. Finally, Atala Financial Inc bought a new position in Progressive during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mariann Wojtkun Marshall sold 585 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $142,324.65. Following the transaction, the chief accounting officer now owns 3,983 shares in the company, valued at $969,024.07. The trade was a 12.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,317 shares of company stock worth $14,844,282 over the last ninety days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on PGR. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $288.00 price objective on shares of Progressive in a report on Thursday. Roth Mkm raised their price objective on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Bank of America increased their target price on Progressive from $289.00 to $297.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Jefferies Financial Group decreased their price target on shares of Progressive from $327.00 to $319.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.76.

Progressive Stock Down 3.5 %

PGR stock opened at $265.45 on Friday. The stock has a market capitalization of $155.62 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.38. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $273.91 and a 200-day moving average price of $257.84. The Progressive Co. has a 12 month low of $201.34 and a 12 month high of $292.99.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating the consensus estimate of $4.28 by $0.37. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The firm had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. As a group, equities research analysts anticipate that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Progressive’s payout ratio is presently 2.70%.

Progressive Company 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.