Oregon Pacific Wealth Management LLC Purchases Shares of 1,002 The Progressive Co. (NYSE:PGR)

Oregon Pacific Wealth Management LLC purchased a new stake in The Progressive Co. (NYSE:PGR) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,002 shares of the insurance provider’s stock, valued at approximately $240,000.

Other hedge funds also recently made changes to their positions in the company. Webster Bank N. A. acquired a new position in shares of Progressive in the 4th quarter valued at $26,000. Valley National Advisers Inc. boosted its holdings in shares of 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 purchasing an additional 120 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in shares of 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 purchasing an additional 73 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of Progressive by 1,650.0% in the 4th 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 period. Finally, Friedenthal Financial purchased a new position in shares of Progressive in the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

PGR opened at $246.78 on Monday. The Progressive Co. has a fifty-two week low of $176.37 and a fifty-two week high of $270.62. 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 firm has a market cap of $144.57 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42. The company’s 50-day moving average price is $247.01 and its 200 day moving average price is $244.75.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (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%. As a group, sell-side analysts expect that The Progressive Co. will post 14.4 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Jefferies Financial Group raised their target price on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HSBC downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research note on Tuesday, December 10th. Finally, Evercore ISI lifted their price target on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.71.

Insider Activity at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total transaction of $952,416.30. Following the completion of the sale, the insider now owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock valued at $13,983,575 over the last ninety days. 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.