One Plus One Wealth Management LLC Invests $299,000 in The Progressive Co. (NYSE:PGR)

One Plus One Wealth Management LLC purchased a new position in The Progressive Co. (NYSE:PGR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,249 shares of the insurance provider’s stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGR. Creative Planning grew its holdings in Progressive by 14.9% during the 3rd quarter. Creative Planning now owns 70,443 shares of the insurance provider’s stock worth $17,876,000 after acquiring an additional 9,114 shares in the last quarter. HTLF Bank bought a new position in shares of Progressive during the third quarter worth about $200,000. Stillwater Capital Advisors LLC acquired a new position in Progressive in the third quarter worth about $214,000. Sumitomo Life Insurance Co. increased its holdings in Progressive by 2.8% in the third quarter. Sumitomo Life Insurance Co. now owns 4,855 shares of the insurance provider’s stock valued at $1,232,000 after buying an additional 131 shares during the last quarter. Finally, Terra Nova Asset Management LLC acquired a new stake in Progressive during the third quarter valued at approximately $1,977,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Progressive from $302.00 to $313.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. BMO Capital Markets dropped their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Morgan Stanley lifted their price target on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Bank of America increased their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and a consensus price target of $275.71.

Progressive Trading Down 0.4 %

NYSE:PGR opened at $256.66 on Thursday. The Progressive Co. has a 1 year low of $180.72 and a 1 year high of $270.62. The business has a fifty day moving average of $244.86 and a 200-day moving average of $246.57. 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 price-to-earnings ratio of 17.82, a PEG ratio of 0.64 and a beta of 0.42.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities analysts predict that The Progressive Co. will post 14.44 earnings per share for the current 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 issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s payout ratio is 2.78%.

Insiders Place Their Bets

In other Progressive news, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the sale, the insider now directly owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. This represents a 8.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last ninety days. 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.