Intelligence Driven Advisers LLC Sells 75 Shares of The Progressive Co. (NYSE:PGR)

Intelligence Driven Advisers LLC lowered its position in The Progressive Co. (NYSE:PGR) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 887 shares of the insurance provider’s stock after selling 75 shares during the period. Intelligence Driven Advisers LLC’s holdings in Progressive were worth $213,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Webster Bank N. A. purchased a new stake in Progressive during the fourth quarter worth about $26,000. Hager Investment Management Services LLC purchased a new position in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the period. Valley National Advisers Inc. grew its holdings in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 120 shares during the period. Finally, DiNuzzo Private Wealth Inc. increased its position in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

Progressive stock opened at $256.66 on Thursday. The firm’s fifty day moving average price is $244.79 and its 200-day moving average price is $246.64. 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 stock has a market cap of $150.35 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The Progressive Co. has a fifty-two week low of $180.72 and a fifty-two week high of $270.62.

Progressive (NYSE:PGR) last released 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 return on equity of 33.79% and a net margin of 11.25%. On average, equities research analysts expect that The Progressive Co. will post 14.44 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

Insider Buying and Selling at Progressive

In other news, insider Lori A. Niederst sold 3,855 shares of Progressive stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $2,680,900.00. Following the sale, the chief financial officer now owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock worth $13,983,575 over the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PGR. JPMorgan Chase & Co. boosted their price objective on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Bank of America boosted their target price on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Thursday. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research note on Tuesday, December 10th. Finally, Barclays reduced their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $275.71.

About Progressive

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.