The Progressive Co. (NYSE:PGR) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC trimmed its stake in The Progressive Co. (NYSE:PGR) by 4.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,409 shares of the insurance provider’s stock after selling 904 shares during the quarter. Kintegral Advisory LLC’s holdings in Progressive were worth $4,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Navellier & Associates Inc. lifted its position in shares of Progressive by 58.8% in the 4th quarter. Navellier & Associates Inc. now owns 58,118 shares of the insurance provider’s stock valued at $13,926,000 after acquiring an additional 21,524 shares in the last quarter. Passumpsic Savings Bank acquired a new position in Progressive during the fourth quarter valued at $3,487,000. Paradigm Asset Management Co. LLC lifted its stake in Progressive by 933.3% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 9,300 shares of the insurance provider’s stock worth $2,228,000 after acquiring an additional 8,400 shares in the last quarter. Compass Capital Corp MA ADV purchased a new stake in Progressive in the 4th quarter worth about $490,000. Finally, Legacy Capital Group California Inc. acquired a new stake in Progressive during the 4th quarter worth about $846,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Price Performance

NYSE PGR opened at $265.99 on Friday. The company has a market cap of $155.82 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.70 and a beta of 0.42. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $270.79. 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 company has a fifty day simple moving average of $246.89 and a 200 day simple moving average of $248.87.

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, sell-side analysts predict that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.78%.

Insider Transactions at Progressive

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

Analysts Set New Price Targets

PGR has been the subject of a number of research analyst reports. Barclays increased their price target on shares of Progressive from $261.00 to $264.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lowered their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. BMO Capital Markets cut their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research note on Thursday, December 26th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.12.

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.