ORG Partners LLC Acquires 181 Shares of The Progressive Co. (NYSE:PGR)

ORG Partners LLC boosted its holdings in The Progressive Co. (NYSE:PGR) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,247 shares of the insurance provider’s stock after purchasing an additional 181 shares during the period. ORG Partners LLC’s holdings in Progressive were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Giverny Capital Inc. increased its stake in shares of Progressive by 2.9% during the 3rd quarter. Giverny Capital Inc. now owns 501,431 shares of the insurance provider’s stock worth $69,849,000 after purchasing an additional 14,022 shares during the last quarter. AIA Group Ltd increased its stake in shares of Progressive by 4.9% during the 3rd quarter. AIA Group Ltd now owns 155,427 shares of the insurance provider’s stock worth $21,651,000 after purchasing an additional 7,268 shares during the last quarter. First Affirmative Financial Network acquired a new position in shares of Progressive during the 4th quarter worth about $295,000. Bensler LLC increased its stake in shares of Progressive by 13.1% during the 4th quarter. Bensler LLC now owns 50,378 shares of the insurance provider’s stock worth $8,024,000 after purchasing an additional 5,848 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in shares of Progressive by 4.0% during the 4th quarter. DNB Asset Management AS now owns 139,368 shares of the insurance provider’s stock worth $22,199,000 after purchasing an additional 5,403 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PGR shares. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Progressive from $228.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, BMO Capital Markets upped their price target on shares of Progressive from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $196.56.

Insider Transactions at Progressive

In other news, insider Andrew J. Quigg sold 551 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total transaction of $93,251.24. Following the completion of the sale, the insider now owns 27,921 shares of the company’s stock, valued at approximately $4,725,350.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Andrew J. Quigg sold 551 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total transaction of $93,251.24. Following the completion of the transaction, the insider now directly owns 27,921 shares in the company, valued at approximately $4,725,350.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick K. Callahan sold 29,675 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,629 shares of company stock valued at $8,348,176. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

NYSE PGR opened at $203.90 on Friday. The firm has a 50-day moving average price of $197.15 and a two-hundred day moving average price of $172.90. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $212.24. 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 company has a market capitalization of $119.42 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.88 and a beta of 0.35.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.53. Progressive had a net margin of 6.28% and a return on equity of 21.25%. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts anticipate that The Progressive Co. will post 10.5 earnings per share for the current year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Wednesday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

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.