Western Wealth Management LLC Has $823,000 Holdings in The Progressive Co. (NYSE:PGR)

Western Wealth Management LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,165 shares of the insurance provider’s stock after acquiring an additional 295 shares during the quarter. Western Wealth Management LLC’s holdings in Progressive were worth $823,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. lifted its holdings in shares of Progressive by 143.6% during the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock valued at $30,000 after buying an additional 112 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Progressive by 109.1% during the 3rd quarter. Harbour Investments Inc. now owns 207 shares of the insurance provider’s stock valued at $29,000 after buying an additional 108 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Progressive during the 1st quarter valued at about $31,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Progressive during the 4th quarter valued at about $39,000. Finally, Arlington Trust Co LLC acquired a new stake in shares of Progressive during the 3rd quarter valued at about $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Performance

Shares of NYSE PGR opened at $214.69 on Friday. The company has a market cap of $125.74 billion, a P/E ratio of 21.97, a P/E/G ratio of 0.85 and a beta of 0.35. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. The Progressive Co. has a 12 month low of $111.41 and a 12 month high of $215.18. The business’s 50 day moving average is $199.92 and its two-hundred day moving average is $175.35.

Progressive (NYSE:PGR) last released its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. The business had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. Progressive’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. On average, equities analysts expect that The Progressive Co. will post 11.22 EPS for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date was Wednesday, April 3rd. Progressive’s dividend payout ratio is presently 4.09%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PGR shares. Jefferies Financial Group lifted their price target on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a report on Monday, April 15th. Morgan Stanley raised their price objective on Progressive from $228.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company raised their price objective on Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group raised their price objective on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. Finally, UBS Group raised their price objective on Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus price target of $211.88.

Insider Activity

In other news, insider Patrick K. Callahan sold 29,675 shares of the business’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 sale, the insider now directly owns 15,189 shares in the company, valued at $2,889,859.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Patrick K. Callahan sold 29,675 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the sale, the insider now owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karen Bailo sold 8,464 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total value of $1,603,843.36. Following the completion of the sale, the insider now directly owns 32,342 shares in the company, valued at approximately $6,128,485.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,139 shares of company stock worth $7,458,139. Company insiders own 0.34% of the company’s stock.

Progressive Company 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.