Leo Wealth LLC Boosts Holdings in The Progressive Co. (NYSE:PGR)

Leo Wealth LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 165.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,840 shares of the insurance provider’s stock after buying an additional 1,769 shares during the quarter. Leo Wealth LLC’s holdings in Progressive were worth $681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Webster Bank N. A. acquired a new position in shares of Progressive during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new position in Progressive during the fourth quarter worth $28,000. Valley National Advisers Inc. raised its holdings in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 120 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its position in shares of 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 in the last quarter. Finally, Independence Bank of Kentucky boosted its stake in shares of Progressive by 1,650.0% during the fourth quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Stock Down 0.3 %

PGR opened at $250.64 on Friday. The company has a market cap of $146.83 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42. 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 Progressive Co. has a 1 year low of $180.72 and a 1 year high of $270.62. The firm has a 50 day moving average price of $245.61 and a 200 day moving average price of $245.36.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 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%. Sell-side analysts expect that The Progressive Co. will post 14.4 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PGR. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. TD Cowen increased their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company lifted their price objective on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and an average target price of $275.71.

Insider Transactions at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock valued at $13,983,575 over the last quarter. Company insiders own 0.34% of the company’s stock.

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.