Dakota Wealth Management Acquires 10,641 Shares of The Progressive Corporation $PGR

Dakota Wealth Management lifted its holdings in The Progressive Corporation (NYSE:PGR) by 20.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,582 shares of the insurance provider’s stock after purchasing an additional 10,641 shares during the period. Dakota Wealth Management’s holdings in Progressive were worth $14,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Davis Capital Management bought a new position in Progressive in the 3rd quarter valued at $25,000. Dagco Inc. bought a new stake in shares of Progressive during the fourth quarter worth $28,000. Ameriflex Group Inc. lifted its position in shares of Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Progressive during the second quarter valued at $34,000. Finally, TruNorth Capital Management LLC boosted its stake in shares of Progressive by 450.0% during the third quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 135 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Activity at Progressive

In other Progressive news, insider Maribel Pumarejo sold 739 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total transaction of $150,201.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Carl G. Joyce sold 270 shares of Progressive stock in a transaction on Friday, March 20th. The shares were sold at an average price of $206.50, for a total value of $55,755.00. Following the completion of the transaction, the chief accounting officer owned 558 shares in the company, valued at $115,227. This represents a 32.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,687 shares of company stock valued at $2,413,044 over the last quarter. 0.34% of the stock is owned by insiders.

Progressive Stock Down 0.0%

Shares of Progressive stock opened at $202.79 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $118.62 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 5.85 and a beta of 0.33. The firm’s 50-day moving average is $205.80 and its two-hundred day moving average is $219.98. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $289.96.

Progressive Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Argus raised shares of Progressive to a “hold” rating in a research note on Thursday, March 5th. Piper Sandler restated an “overweight” rating and issued a $259.00 target price on shares of Progressive in a research note on Monday, March 2nd. Barclays set a $247.00 target price on shares of Progressive in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a research note on Monday, December 29th. Finally, Bank of America lowered their price target on Progressive from $305.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $239.22.

Progressive 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.