The Progressive Co. (NYSE:PGR) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its position in shares of The Progressive Co. (NYSE:PGR) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,655 shares of the insurance provider’s stock after acquiring an additional 385 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Progressive were worth $1,219,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PGR. Valley National Advisers Inc. lifted its stake in 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 acquiring an additional 112 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in shares of Progressive in the fourth quarter worth about $39,000. Criterion Capital Advisors LLC purchased a new position in Progressive during the fourth quarter valued at approximately $47,000. BOK Financial Private Wealth Inc. acquired a new position in Progressive in the fourth quarter valued at approximately $48,000. Finally, Webster Bank N. A. acquired a new position in Progressive in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE PGR opened at $208.72 on Friday. The firm has a 50-day simple moving average of $203.96 and a 200-day simple moving average of $179.25. 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 stock has a market capitalization of $122.25 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 0.82 and a beta of 0.34. The Progressive Co. has a 52 week low of $111.41 and a 52 week high of $216.21.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The company had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same quarter in the prior year, the company earned $0.65 EPS. Progressive’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts predict that The Progressive Co. will post 11.34 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

Analyst Ratings Changes

PGR has been the subject of several recent research reports. BMO Capital Markets lifted their target price on shares of Progressive from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Roth Mkm lifted their price objective on shares of Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 18th. Jefferies Financial Group increased their target price on shares of Progressive from $241.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Citigroup lifted their price target on Progressive from $202.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Finally, Bank of America lowered their price target on Progressive from $279.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $211.88.

Insiders Place Their Bets

In other Progressive news, insider Karen Bailo sold 8,464 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was 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 of the company’s stock, valued at approximately $6,128,485.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Karen Bailo sold 8,464 shares of the stock in a transaction that occurred 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 owns 32,342 shares of the company’s stock, valued at approximately $6,128,485.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patrick K. Callahan sold 29,675 shares of Progressive stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 approximately $2,889,859.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,139 shares of company stock valued at $7,458,139. Insiders own 0.34% of the company’s stock.

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.