The Progressive Co. (NYSE:PGR) Stock Position Decreased by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH cut its position in shares of The Progressive Co. (NYSE:PGR) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,299 shares of the insurance provider’s stock after selling 198 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Progressive were worth $311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Capital Management purchased a new stake in shares of Progressive during the 3rd quarter worth about $25,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Progressive by 114.1% in the 3rd 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 in the last quarter. Kimelman & Baird LLC bought a new position in shares of Progressive in the 2nd quarter valued at approximately $36,000. Friedenthal Financial bought a new position in shares of Progressive in the 3rd quarter valued at approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Progressive in the 3rd quarter valued at approximately $49,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Price Performance

Shares of PGR stock opened at $239.58 on Friday. The stock’s fifty day simple moving average is $248.98 and its 200 day simple moving average is $243.14. 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 firm has a market cap of $140.35 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 0.63 and a beta of 0.41. The Progressive Co. has a one year low of $175.50 and a one year high of $270.62.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is 2.91%.

Insider Activity at Progressive

In related news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction 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 sale, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,506 shares of company stock valued at $10,531,159 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PGR. Barclays cut their price objective on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley cut their price objective on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America lifted 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, HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus price target of $274.65.

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.