The Progressive Co. (NYSE:PGR) Shares Acquired by Kelleher Financial Advisors

Kelleher Financial Advisors lifted its position in shares of The Progressive Co. (NYSE:PGR) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 995 shares of the insurance provider’s stock after purchasing an additional 45 shares during the period. Kelleher Financial Advisors’ holdings in Progressive were worth $238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Davis Capital Management purchased a new position in shares of Progressive during the third quarter worth about $25,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Progressive in the 2nd quarter valued at approximately $36,000. Friedenthal Financial purchased a new stake in Progressive in the 3rd quarter valued at approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progressive in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on PGR shares. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their price objective on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. TD Cowen upped their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Bank of America upped their price objective on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.65.

Insider Buying and Selling

In other news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,938 shares of company stock valued at $7,473,490 over the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.8 %

Shares of PGR stock opened at $239.13 on Thursday. The Progressive Co. has a 12-month low of $169.57 and a 12-month high of $270.62. The company has a market capitalization of $140.08 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.63 and a beta of 0.41. The firm has a 50-day moving average price of $249.42 and a 200 day moving average price of $243.16. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is 2.91%.

Progressive 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.