Claro Advisors LLC Sells 282 Shares of The Progressive Co. (NYSE:PGR)

Claro Advisors LLC decreased its position in The Progressive Co. (NYSE:PGR) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,670 shares of the insurance provider’s stock after selling 282 shares during the quarter. Claro Advisors LLC’s holdings in Progressive were worth $640,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PGR. Davis Capital Management bought a new position in Progressive in the third quarter valued at about $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Kimelman & Baird LLC bought a new position in Progressive in the second quarter valued at about $36,000. Friedenthal Financial bought a new position in Progressive in the third quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Progressive in the third quarter valued at about $49,000. Institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group increased their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI upped their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America upped their price target on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $275.24.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 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 $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,919 shares of company stock worth $8,222,168 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Performance

NYSE PGR opened at $235.84 on Tuesday. The stock has a market capitalization of $138.16 billion, a PE ratio of 17.14, a P/E/G ratio of 0.70 and a beta of 0.41. The business has a 50 day simple moving average of $251.23 and a two-hundred day simple moving average of $241.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.18. The business had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, research analysts predict that The Progressive Co. will post 13.2 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s dividend payout ratio is presently 2.91%.

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.