Signal Advisors Wealth LLC Raises Stock Holdings in The Progressive Co. (NYSE:PGR)

Signal Advisors Wealth LLC raised its position in shares of The Progressive Co. (NYSE:PGR) by 42.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,889 shares of the insurance provider’s stock after buying an additional 3,534 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Progressive were worth $2,849,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PGR. State Street Corp grew its holdings in Progressive by 1.3% in 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 period. Geode Capital Management LLC increased its position in Progressive by 13.2% during the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after buying an additional 1,682,213 shares in the last quarter. FMR LLC raised its stake in Progressive by 1.6% during the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after buying an additional 170,618 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after acquiring an additional 330,667 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after acquiring an additional 92,212 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Up 0.1 %

NYSE PGR opened at $235.84 on Tuesday. 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 Progressive Co. has a 12 month low of $166.92 and a 12 month high of $270.62. The stock’s 50 day moving average is $251.23 and its 200 day moving average is $241.78. The stock has a market cap of $138.16 billion, a PE ratio of 17.14, a P/E/G ratio of 0.70 and a beta of 0.41.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Research analysts predict that The Progressive Co. will post 13.2 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s payout ratio is 2.91%.

Insider Buying and Selling

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the business’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 sale, the insider now directly owns 33,612 shares of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s 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 $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,919 shares of company stock worth $8,222,168. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PGR. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research note on Thursday, December 26th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Roth Mkm boosted their price objective on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Barclays cut their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and an average target price of $275.24.

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.