Regent Peak Wealth Advisors LLC Decreases Stock Position in The Progressive Corporation $PGR

Regent Peak Wealth Advisors LLC lowered its position in shares of The Progressive Corporation (NYSE:PGR) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,011 shares of the insurance provider’s stock after selling 3,160 shares during the period. Progressive makes up about 0.6% of Regent Peak Wealth Advisors LLC’s investment portfolio, making the stock its 26th largest position. Regent Peak Wealth Advisors LLC’s holdings in Progressive were worth $3,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PGR. Davis Capital Management acquired a new stake in Progressive during the 3rd quarter valued at $25,000. Ameriflex Group Inc. increased its stake in Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after buying an additional 65 shares during the period. Howard Hughes Medical Institute acquired a new position in Progressive in the 2nd quarter worth $34,000. TruNorth Capital Management LLC boosted its position in Progressive by 450.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock valued at $41,000 after buying an additional 135 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its position in Progressive by 41.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 196 shares of the insurance provider’s stock valued at $48,000 after buying an additional 57 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In related news, CAO Carl G. Joyce sold 141 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $29,892.00. Following the sale, the chief accounting officer owned 828 shares in the company, valued at $175,536. This represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew J. Quigg sold 1,649 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the transaction, the insider directly owned 39,626 shares in the company, valued at $8,097,573.10. This represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 11,417 shares of company stock worth $2,357,289. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PGR has been the topic of a number of analyst reports. BMO Capital Markets dropped their target price on Progressive from $232.00 to $208.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 11th. Roth Mkm set a $235.00 price target on Progressive in a report on Thursday, February 19th. Argus upgraded Progressive to a “hold” rating in a report on Thursday, March 5th. Barclays set a $247.00 target price on Progressive in a research report on Wednesday. Finally, Citigroup reduced their target price on Progressive from $300.60 to $261.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus target price of $239.72.

Progressive Stock Performance

Progressive stock opened at $205.93 on Friday. The company has a market cap of $120.66 billion, a PE ratio of 10.70, a P/E/G ratio of 8.95 and a beta of 0.33. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $289.96. The company has a fifty day moving average price of $206.07 and a two-hundred day moving average price of $220.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive’s dividend payout ratio is currently 2.08%.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Bank of America kept a “buy” rating and, despite trimming its target slightly to $305, still implies substantial upside — a supporting factor for the stock. Progressive had its price target lowered by Bank of America Corporation from $308.00 to $305.00
• Positive Sentiment: Wells Fargo raised its target to $217 and maintained an “equal weight” view, a modest positive signal that offsets some downgrades. Wells Fargo raised its price target on Progressive
• Neutral Sentiment: Progressive is getting increased attention from retail and news platforms; Zacks flagged PGR as a “trending” stock, which can drive short-term volume and volatility but doesn’t change fundamentals. The Progressive Corporation (PGR) Is a Trending Stock
• Neutral Sentiment: Recent media noted intraday moves in PGR (short-term price swings); useful for traders but not necessarily indicative of a lasting trend. Progressive (PGR) stock moves -1.29%: What you should know
• Negative Sentiment: Mizuho cut its target to $223 and moved to “neutral,” trimming upside expectations and applying downward pressure. Progressive had its price target lowered by Mizuho from $235.00 to $223.00
• Negative Sentiment: Barclays downgraded PGR from “strong-buy” to “hold,” reducing buy-side conviction and potentially limiting near-term gains. Progressive was downgraded by Barclays PLC from “strong-buy” to “hold”
• Negative Sentiment: Keefe, Bruyette & Woods trimmed its target to $227 and set a “market perform” rating, another modest drag on sentiment. Progressive had its price target lowered by Keefe, Bruyette & Woods
• Neutral Sentiment: An unrelated biotech update (Zenas BioPharma) appeared in the feed but has no material bearing on Progressive’s insurance business. Zenas BioPharma Advances Phase 3 Orelabrutinib Trial

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.