TD Private Client Wealth LLC Boosts Position in The Progressive Co. (NYSE:PGR)

TD Private Client Wealth LLC lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,794 shares of the insurance provider’s stock after acquiring an additional 343 shares during the period. TD Private Client Wealth LLC’s holdings in Progressive were worth $2,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PGR. Webster Bank N. A. purchased a new position in shares of Progressive during the 4th quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in shares of Progressive during the 4th quarter worth $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings 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 worth $28,000 after acquiring an additional 41 shares during the period. Valley National Advisers Inc. raised its holdings in Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares during the period. Finally, Atala Financial Inc purchased a new stake in Progressive in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 681 shares of the company’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 transaction of $164,870.10. Following the completion of the sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company’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 sale, the chief accounting officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 65,495 shares of company stock worth $16,668,034. 0.34% of the stock is owned by insiders.

Progressive Stock Performance

Shares of PGR opened at $273.08 on Friday. The stock has a 50 day moving average price of $261.96 and a 200 day moving average price of $254.99. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $160.08 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (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%. Research analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s dividend payout ratio is currently 2.78%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PGR. Bank of America reduced their price objective on shares of Progressive from $318.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a research report on Thursday, December 26th. Morgan Stanley lifted their target price on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their target price on Progressive from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $281.06.

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.