Angeles Wealth Management LLC Has $1 Million Stake in The Progressive Co. (NYSE:PGR)

Angeles Wealth Management LLC raised its position in shares of The Progressive Co. (NYSE:PGR) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,179 shares of the insurance provider’s stock after purchasing an additional 154 shares during the quarter. Angeles Wealth Management LLC’s holdings in Progressive were worth $1,001,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Brookstone Capital Management lifted its stake in Progressive by 16.6% in the 3rd quarter. Brookstone Capital Management now owns 1,055 shares of the insurance provider’s stock worth $268,000 after acquiring an additional 150 shares in the last quarter. LVW Advisors LLC acquired a new position in shares of Progressive in the 3rd quarter valued at about $242,000. Valeo Financial Advisors LLC lifted its position in shares of Progressive by 5.6% in the third quarter. Valeo Financial Advisors LLC now owns 3,966 shares of the insurance provider’s stock worth $1,006,000 after purchasing an additional 212 shares in the last quarter. Perfromance Wealth Partners LLC boosted its holdings in shares of Progressive by 5.5% during the third quarter. Perfromance Wealth Partners LLC now owns 1,145 shares of the insurance provider’s stock worth $291,000 after purchasing an additional 60 shares during the period. Finally, Gateway Investment Advisers LLC increased its stake in shares of Progressive by 33.6% in the third quarter. Gateway Investment Advisers LLC now owns 2,407 shares of the insurance provider’s stock worth $611,000 after acquiring an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the subject of a number of research reports. Barclays reduced their price objective on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Bank of America lifted their price target on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. BMO Capital Markets dropped their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price target on shares of Progressive from $302.00 to $313.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Progressive has an average rating of “Moderate Buy” and an average target price of $275.71.

Insider Buying and Selling at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the firm’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 owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents 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 the SEC website. Also, insider Lori A. Niederst sold 3,855 shares of Progressive stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the sale, the insider now directly owns 39,040 shares in the company, valued at $9,645,222.40. The trade was a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock valued at $13,983,575 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.3 %

Progressive stock opened at $250.64 on Monday. The Progressive Co. has a 52 week low of $180.72 and a 52 week high of $270.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The firm has a market capitalization of $146.83 billion, a PE ratio of 17.41, a PEG ratio of 0.64 and a beta of 0.42. The business’s 50-day simple moving average is $245.24 and its 200-day simple moving average is $245.80.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS 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%. Equities research analysts forecast that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s payout ratio is currently 2.78%.

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.