Mirabella Financial Services LLP bought a new position in The Progressive Co. (NYSE:PGR – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 43,252 shares of the insurance provider’s stock, valued at approximately $10,365,000. Progressive makes up approximately 0.9% of Mirabella Financial Services LLP’s investment portfolio, making the stock its 25th biggest holding.
Other large investors have also recently bought and sold shares of the company. Webster Bank N. A. bought a new stake in Progressive during the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive during the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the last quarter. Valley National Advisers Inc. grew its holdings in shares of Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Atala Financial Inc bought a new position in shares of Progressive in the fourth quarter worth approximately $32,000. 85.34% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Progressive news, insider Andrew J. Quigg sold 962 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $234,044.98. Following the completion of the sale, the insider now directly owns 34,787 shares in the company, valued at $8,463,329.23. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO John P. Sauerland sold 1,542 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $282.66, for a total value of $435,861.72. Following the transaction, the chief financial officer now owns 268,024 shares in the company, valued at $75,759,663.84. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,317 shares of company stock valued at $14,844,282 over the last quarter. 0.34% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
View Our Latest Research Report on Progressive
Progressive Trading Down 3.5 %
NYSE:PGR opened at $265.45 on Friday. The firm has a market capitalization of $155.62 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.70 and a beta of 0.38. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. 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 company has a fifty day moving average of $273.91 and a 200 day moving average of $257.86.
Progressive (NYSE:PGR – Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating the consensus estimate of $4.28 by $0.37. The firm had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, research analysts predict that The Progressive Co. will post 14.68 earnings per share for the current year.
Progressive Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive’s dividend payout ratio (DPR) is presently 2.70%.
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.
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