Werba Rubin Papier Wealth Management Raises Holdings in The Progressive Co. (NYSE:PGR)

Werba Rubin Papier Wealth Management grew its holdings in The Progressive Co. (NYSE:PGR) by 7.3% during the fourth quarter, HoldingsChannel reports. The fund owned 1,011 shares of the insurance provider’s stock after purchasing an additional 69 shares during the period. Werba Rubin Papier Wealth Management’s holdings in Progressive were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PGR. Raleigh Capital Management Inc. boosted its position in shares of Progressive by 20.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 41 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its position in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 41 shares during the period. LRI Investments LLC raised its stake in shares of Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after buying an additional 42 shares in the last quarter. SYM FINANCIAL Corp raised its stake in shares of Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after buying an additional 44 shares in the last quarter. Finally, Monument Capital Management boosted its position in Progressive by 0.3% during the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PGR. JPMorgan Chase & Co. upped their price target on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. Morgan Stanley boosted their price objective on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a report on Tuesday, December 10th. Finally, TD Cowen increased their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and an average target price of $275.88.

Progressive Trading Up 0.4 %

Shares of NYSE PGR opened at $263.59 on Wednesday. The business has a 50-day moving average price of $245.59 and a two-hundred day moving average price of $248.21. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $154.41 billion, a PE ratio of 18.30, a PEG ratio of 0.66 and a beta of 0.42. The Progressive Co. has a one year low of $186.94 and a one year high of $270.62.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, analysts predict that The Progressive Co. will post 14.44 earnings per share for the current fiscal 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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is 2.78%.

Insider Activity at Progressive

In other news, insider Lori A. Niederst sold 3,855 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the transaction, the insider now owns 39,040 shares in the company, valued at approximately $9,645,222.40. This represents a 8.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is owned by insiders.

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.