Kestra Advisory Services LLC Lowers Holdings in The Progressive Co. (NYSE:PGR)

Kestra Advisory Services LLC trimmed its holdings in The Progressive Co. (NYSE:PGRGet Rating) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,186 shares of the insurance provider’s stock after selling 130 shares during the period. Kestra Advisory Services LLC’s holdings in Progressive were worth $1,416,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. NorthRock Partners LLC purchased a new stake in Progressive in the second quarter valued at $232,000. Ellevest Inc. boosted its stake in shares of Progressive by 244.0% during the 2nd quarter. Ellevest Inc. now owns 891 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 632 shares in the last quarter. Ascent Group LLC boosted its stake in shares of Progressive by 80.8% during the 2nd quarter. Ascent Group LLC now owns 4,070 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 1,819 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Progressive by 7.1% during the 3rd quarter. Texas Permanent School Fund now owns 82,762 shares of the insurance provider’s stock worth $9,618,000 after acquiring an additional 5,508 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Progressive by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 675,500 shares of the insurance provider’s stock worth $78,540,000 after acquiring an additional 11,900 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Down 0.4 %

Shares of NYSE PGR opened at $127.12 on Tuesday. The company has a 50 day simple moving average of $129.87 and a 200-day simple moving average of $124.58. The company has a market capitalization of $74.37 billion, a P/E ratio of 90.16, a P/E/G ratio of 0.96 and a beta of 0.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.40 and a quick ratio of 0.40. The Progressive Co. has a 1 year low of $100.81 and a 1 year high of $135.45.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, January 6th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, January 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. Progressive’s dividend payout ratio is currently 28.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday, October 14th. Citigroup reduced their price target on shares of Progressive from $106.00 to $104.00 and set a “sell” rating for the company in a research report on Tuesday, November 22nd. TheStreet upgraded shares of Progressive from a “c+” rating to a “b-” rating in a research report on Friday, November 4th. Evercore ISI reduced their price target on shares of Progressive to $133.00 in a research report on Thursday, October 20th. Finally, Jefferies Financial Group upgraded shares of Progressive from a “hold” rating to a “buy” rating and upped their price target for the stock from $123.00 to $142.00 in a research report on Friday, October 7th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $124.36.

Insider Transactions at Progressive

In other news, insider Daniel P. Mascaro sold 3,930 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $129.59, for a total transaction of $509,288.70. Following the completion of the sale, the insider now owns 42,818 shares in the company, valued at approximately $5,548,784.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Daniel P. Mascaro sold 3,930 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $129.59, for a total transaction of $509,288.70. Following the completion of the sale, the insider now owns 42,818 shares in the company, valued at approximately $5,548,784.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 26,885 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $130.36, for a total transaction of $3,504,728.60. Following the sale, the chief executive officer now owns 431,810 shares of the company’s stock, valued at approximately $56,290,751.60. The disclosure for this sale can be found here. Insiders sold 68,559 shares of company stock worth $8,822,843 in the last 90 days. Insiders own 0.33% of the company’s stock.

Progressive Company Profile

(Get Rating)

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.

See Also

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Co. (NYSE:PGRGet Rating).

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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