BSW Wealth Partners Acquires 69 Shares of The Progressive Co. (NYSE:PGR)

BSW Wealth Partners boosted its holdings in The Progressive Co. (NYSE:PGR) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,727 shares of the insurance provider’s stock after purchasing an additional 69 shares during the period. BSW Wealth Partners’ holdings in Progressive were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Bleakley Financial Group LLC increased its position in shares of Progressive by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 11,621 shares of the insurance provider’s stock valued at $1,851,000 after acquiring an additional 283 shares during the period. Meeder Advisory Services Inc. increased its position in shares of Progressive by 1.5% in the fourth quarter. Meeder Advisory Services Inc. now owns 6,721 shares of the insurance provider’s stock valued at $1,071,000 after acquiring an additional 97 shares during the period. Americana Partners LLC purchased a new position in shares of Progressive during the fourth quarter valued at about $212,000. Retireful LLC purchased a new position in shares of Progressive during the fourth quarter valued at about $2,145,000. Finally, Arlington Trust Co LLC increased its position in shares of Progressive by 2,451.2% during the fourth quarter. Arlington Trust Co LLC now owns 6,531 shares of the insurance provider’s stock valued at $1,040,000 after buying an additional 6,275 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PGR shares. Keefe, Bruyette & Woods boosted their price target on shares of Progressive from $185.00 to $190.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. BMO Capital Markets boosted their price target on shares of Progressive from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Bank of America cut their price objective on shares of Progressive from $265.00 to $264.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Piper Sandler restated an “overweight” rating and issued a $240.00 price objective on shares of Progressive in a report on Monday, April 1st. Finally, TD Cowen began coverage on shares of Progressive in a report on Wednesday, January 10th. They issued a “market perform” rating and a $174.00 price objective on the stock. One research 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, the stock currently has an average rating of “Hold” and a consensus target price of $191.44.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 551 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total value of $93,251.24. Following the completion of the sale, the insider now directly owns 27,921 shares of the company’s stock, valued at $4,725,350.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Andrew J. Quigg sold 551 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total value of $93,251.24. Following the completion of the sale, the insider now directly owns 27,921 shares of the company’s stock, valued at $4,725,350.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Patrick K. Callahan sold 29,675 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the completion of the sale, the insider now directly owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,629 shares of company stock valued at $8,348,176. Insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.3 %

Shares of PGR stock opened at $210.39 on Tuesday. The Progressive Co. has a 12 month low of $111.41 and a 12 month high of $212.24. The stock has a market cap of $123.23 billion, a P/E ratio of 31.97, a P/E/G ratio of 0.95 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.35. The company has a 50 day simple moving average of $195.16 and a two-hundred day simple moving average of $171.37.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 24th. The insurance provider reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.53. Progressive had a net margin of 6.28% and a return on equity of 21.25%. The business had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period in the prior year, the company earned $1.52 earnings per share. On average, research analysts expect that The Progressive Co. will post 9.9 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. Progressive’s dividend payout ratio is currently 6.08%.

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.