The Progressive Co. (NYSE:PGR) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in shares of The Progressive Co. (NYSE:PGR) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,665 shares of the insurance provider’s stock after purchasing an additional 4,217 shares during the period. Cetera Investment Advisers’ holdings in Progressive were worth $18,130,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PGR shares. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley boosted their target price on Progressive from $310.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, April 29th. BMO Capital Markets raised their price target on Progressive from $282.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Barclays boosted their price objective on Progressive from $285.00 to $297.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Finally, Roth Mkm raised their target price 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. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $287.65.

Insider Activity

In other news, CIO Jonathan S. Bauer sold 1,227 shares of Progressive stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $281.00, for a total transaction of $344,787.00. Following the completion of the transaction, the executive now owns 28,393 shares of the company’s stock, valued at $7,978,433. The trade was a 4.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Patrick K. Callahan sold 4,669 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $279.70, for a total transaction of $1,305,919.30. Following the completion of the sale, the insider now directly owns 15,191 shares in the company, valued at approximately $4,248,922.70. The trade was a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,894 shares of company stock worth $11,020,097. Company insiders own 0.34% of the company’s stock.

Progressive Stock Up 0.1 %

PGR opened at $284.33 on Friday. The business has a 50 day simple moving average of $275.16 and a 200-day simple moving average of $260.28. The Progressive Co. has a 12 month low of $201.34 and a 12 month high of $292.99. The stock has a market capitalization of $166.68 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.28 by $0.37. The company had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, equities analysts anticipate that The Progressive Co. will post 14.68 earnings per share 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 $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Progressive’s dividend payout ratio (DPR) 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.