1,372 Shares in The Progressive Co. (NYSE:PGR) Bought by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC bought a new position in The Progressive Co. (NYSE:PGR) during the fourth quarter, HoldingsChannel reports. The firm bought 1,372 shares of the insurance provider’s stock, valued at approximately $219,000.

A number of other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC bought a new position in Progressive during the 4th quarter valued at $840,885,000. Norges Bank bought a new position in Progressive during the 4th quarter valued at $802,968,000. Wellington Management Group LLP lifted its stake in Progressive by 14.1% during the 3rd quarter. Wellington Management Group LLP now owns 21,554,503 shares of the insurance provider’s stock valued at $3,002,542,000 after acquiring an additional 2,666,449 shares in the last quarter. Morgan Stanley lifted its stake in Progressive by 25.4% during the 4th quarter. Morgan Stanley now owns 6,721,345 shares of the insurance provider’s stock valued at $871,826,000 after acquiring an additional 1,361,665 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Progressive by 31.8% during the 3rd quarter. Invesco Ltd. now owns 4,781,075 shares of the insurance provider’s stock valued at $666,004,000 after acquiring an additional 1,154,591 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the topic of several recent analyst reports. TD Cowen initiated coverage on Progressive in a research note on Wednesday, January 10th. They set a “market perform” rating and a $174.00 price objective on the stock. Piper Sandler raised their target price on Progressive from $188.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Citigroup raised their target price on Progressive from $192.00 to $202.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Roth Mkm raised their target price on Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company raised Progressive from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $144.00 to $176.00 in a research report on Monday, December 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Progressive has a consensus rating of “Hold” and a consensus price target of $186.50.

Insider Activity

In other news, insider Andrew J. Quigg sold 1,210 shares of Progressive stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total transaction of $196,334.60. Following the completion of the sale, the insider now owns 27,247 shares in the company, valued at approximately $4,421,098.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Susan Patricia Griffith sold 13,110 shares of Progressive stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total transaction of $2,127,228.60. Following the completion of the sale, the chief executive officer now owns 465,737 shares in the company, valued at approximately $75,570,485.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 1,210 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total value of $196,334.60. Following the completion of the sale, the insider now owns 27,247 shares of the company’s stock, valued at approximately $4,421,098.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,949 shares of company stock worth $10,671,740. 0.34% of the stock is currently owned by insiders.

Progressive Stock Up 0.3 %

PGR stock opened at $206.82 on Friday. 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 firm has a market capitalization of $121.13 billion, a PE ratio of 31.43, a PEG ratio of 0.94 and a beta of 0.34. The Progressive Co. has a twelve month low of $111.41 and a twelve month high of $208.19. The stock has a 50-day simple moving average of $189.55 and a two-hundred day simple moving average of $167.28.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, January 24th. The insurance provider reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.53. The business had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.10 billion. Progressive had a return on equity of 21.25% and a net margin of 6.28%. During the same quarter in the previous year, the firm earned $1.52 EPS. On average, equities analysts predict that The Progressive Co. will post 9.82 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Progressive’s dividend payout ratio (DPR) is presently 12.92%.

Progressive 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.