Davidson Investment Advisors Sells 437 Shares of The Progressive Co. (NYSE:PGR)

Davidson Investment Advisors lessened its position in The Progressive Co. (NYSE:PGR) by 0.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,897 shares of the insurance provider’s stock after selling 437 shares during the period. Progressive comprises approximately 1.2% of Davidson Investment Advisors’ holdings, making the stock its 27th biggest holding. Davidson Investment Advisors’ holdings in Progressive were worth $24,415,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Webster Bank N. A. acquired a new stake in Progressive in the fourth quarter valued at $26,000. Hager Investment Management Services LLC acquired a new position in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC grew its stake in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after buying an additional 41 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 120 shares during the period. Finally, Independence Bank of Kentucky lifted its stake in Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Performance

Shares of PGR stock opened at $262.71 on Tuesday. The business has a 50-day simple moving average of $244.97 and a 200-day simple moving average of $247.54. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The stock has a market cap of $153.90 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The Progressive Co. has a 52-week low of $186.94 and a 52-week high of $270.62.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities analysts expect that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Wall Street Analyst Weigh In

PGR has been the topic of several research reports. Bank of America lifted their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. 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. Finally, TD Cowen raised their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.71.

Insider Buying and Selling

In other news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 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 value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 in the last ninety days. Insiders own 0.34% of the company’s stock.

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.