Nilsine Partners LLC Buys 56 Shares of The Progressive Co. (NYSE:PGR)

Nilsine Partners LLC lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,624 shares of the insurance provider’s stock after buying an additional 56 shares during the period. Nilsine Partners LLC’s holdings in Progressive were worth $1,348,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Davis Capital Management bought a new position in Progressive in the third quarter valued at about $25,000. Webster Bank N. A. acquired a new position in shares of Progressive in the fourth quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. raised its holdings in 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 buying an additional 73 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in Progressive during the 2nd quarter worth approximately $36,000. Finally, Friedenthal Financial bought a new stake in Progressive during the 3rd quarter worth approximately $49,000. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PGR. BMO Capital Markets dropped their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. raised their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Bank of America upped their price target on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Evercore ISI raised their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their target price on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $274.65.

Progressive Trading Down 0.8 %

NYSE:PGR opened at $244.86 on Wednesday. The Progressive Co. has a 12 month low of $175.50 and a 12 month high of $270.62. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $143.44 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.62 and a beta of 0.41. The firm has a fifty day simple moving average of $248.08 and a two-hundred day simple moving average of $244.03.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Insiders Place Their Bets

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This trade represents a 4.58 % 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 business’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,506 shares of company stock worth $10,531,159. Corporate insiders own 0.34% of the company’s stock.

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.