OneAscent Financial Services LLC Purchases 857 Shares of The Progressive Co. (NYSE:PGR)

OneAscent Financial Services LLC boosted its position in The Progressive Co. (NYSE:PGR) by 36.7% in the 4th quarter, Holdings Channel reports. The firm owned 3,192 shares of the insurance provider’s stock after buying an additional 857 shares during the quarter. OneAscent Financial Services LLC’s holdings in Progressive were worth $765,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider’s stock worth $12,795,262,000 after acquiring an additional 583,376 shares during the last quarter. State Street Corp lifted its position in shares of Progressive by 1.3% during the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock worth $6,263,763,000 after purchasing an additional 315,411 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Progressive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider’s stock valued at $3,498,363,000 after purchasing an additional 189,638 shares during the period. Norges Bank bought a new position in shares of Progressive in the fourth quarter worth about $1,843,045,000. Finally, GQG Partners LLC lifted its holdings in Progressive by 67.6% during the 4th quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider’s stock valued at $1,239,143,000 after buying an additional 2,085,833 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of a number of research reports. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research report on Thursday, December 26th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price target on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Bank of America lowered their price objective on shares of Progressive from $318.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Morgan Stanley raised their target price on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $281.06.

Insider Activity at Progressive

In related news, insider Andrew J. Quigg sold 681 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John P. Sauerland sold 1,542 shares of Progressive stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $282.66, for a total transaction of $435,861.72. Following the sale, the chief financial officer now owns 268,024 shares of the company’s stock, valued at approximately $75,759,663.84. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,255 shares of company stock valued at $17,250,271 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Progressive Trading Down 1.0 %

Shares of NYSE:PGR opened at $281.38 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a market capitalization of $164.96 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.70 and a beta of 0.38. The business’s 50-day moving average is $267.83 and its 200 day moving average is $256.52. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99.

Progressive (NYSE:PGR) last announced its quarterly earnings data 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%. On average, research analysts predict that The Progressive Co. will post 14.68 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 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

About Progressive

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.