Venturi Wealth Management LLC Sells 721 Shares of The Progressive Co. (NYSE:PGR)

Venturi Wealth Management LLC decreased its stake in shares of The Progressive Co. (NYSE:PGRFree Report) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,786 shares of the insurance provider’s stock after selling 721 shares during the quarter. Venturi Wealth Management LLC’s holdings in Progressive were worth $11,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Beacon Financial Advisory LLC acquired a new position in Progressive during the 4th quarter valued at approximately $240,000. Webster Bank N. A. acquired a new position in Progressive during the 4th quarter valued at approximately $53,000. TriaGen Wealth Management LLC acquired a new position in Progressive during the 4th quarter valued at approximately $434,000. Drive Wealth Management LLC increased its stake in Progressive by 5.3% during the 4th quarter. Drive Wealth Management LLC now owns 1,990 shares of the insurance provider’s stock valued at $317,000 after purchasing an additional 100 shares in the last quarter. Finally, JLB & Associates Inc. increased its stake in Progressive by 5.1% during the 4th quarter. JLB & Associates Inc. now owns 79,848 shares of the insurance provider’s stock valued at $12,718,000 after purchasing an additional 3,863 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 551 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total value of $93,251.24. Following the completion of the sale, the insider now directly owns 27,921 shares in the company, valued at $4,725,350.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Susan Patricia Griffith sold 5,939 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total value of $1,005,116.36. Following the completion of the sale, the chief executive officer now directly owns 465,737 shares in the company, valued at $78,821,329.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Quigg sold 551 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total transaction of $93,251.24. Following the completion of the sale, the insider now owns 27,921 shares of the company’s stock, valued at $4,725,350.04. The disclosure for this sale can be found here. Insiders have sold a total of 44,629 shares of company stock valued at $8,348,176 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PGR shares. Roth Mkm upped their price target on shares of Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC upped their price objective on shares of Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods upped their price objective on shares of Progressive from $185.00 to $190.00 and gave the company a “market perform” rating in a report on Monday, March 18th. The Goldman Sachs Group upped their price objective on shares of Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday, March 25th. Finally, TD Cowen began coverage on shares of Progressive in a report on Wednesday, January 10th. They issued a “market perform” rating and a $174.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $188.50.

Check Out Our Latest Research Report on Progressive

Progressive Stock Performance

PGR opened at $210.88 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35. The company has a market cap of $123.51 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 0.94 and a beta of 0.35. The Progressive Co. has a 52-week low of $111.41 and a 52-week high of $211.74. The firm’s fifty day simple moving average is $193.26 and its two-hundred day simple moving average is $169.73.

Progressive (NYSE:PGRGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.53. The business had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.10 billion. Progressive had a net margin of 6.28% and a return on equity of 21.25%. During the same period last year, the firm posted $1.52 earnings per share. Equities analysts anticipate that The Progressive Co. will post 9.9 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, April 3rd. Progressive’s payout ratio is 12.92%.

Progressive Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.