983 Shares in The Progressive Co. (NYSE:PGR) Acquired by Enclave Advisors LLC

Enclave Advisors LLC acquired a new stake in shares of The Progressive Co. (NYSE:PGR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 983 shares of the insurance provider’s stock, valued at approximately $236,000.

A number of other large investors have also bought and sold shares of PGR. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter worth $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% during the third 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. Kimelman & Baird LLC purchased a new stake in Progressive during the second quarter valued at about $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Progressive during the third quarter worth about $49,000. Finally, Friedenthal Financial purchased a new position in shares of Progressive in the third quarter worth about $49,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Barclays cut their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.65.

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the sale, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 29,938 shares of company stock worth $7,473,490. 0.34% of the stock is currently owned by insiders.

Progressive Stock Performance

NYSE PGR opened at $240.64 on Wednesday. The Progressive Co. has a 52-week low of $169.57 and a 52-week high of $270.62. The company has a fifty day moving average of $249.85 and a 200-day moving average of $242.95. The company has a market capitalization of $140.97 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive Dividend Announcement

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

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.