Fort Washington Investment Advisors Inc. OH Sells 198 Shares of The Progressive Co. (NYSE:PGR)

Fort Washington Investment Advisors Inc. OH lowered its position in shares of The Progressive Co. (NYSE:PGR) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,299 shares of the insurance provider’s stock after selling 198 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Progressive were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PGR. Davis Capital Management bought a new stake in shares of Progressive during the third quarter worth $25,000. DiNuzzo Private Wealth Inc. raised its position in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Progressive during the second quarter worth $36,000. Friedenthal Financial bought a new stake in shares of Progressive during the third quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progressive during the third quarter worth $49,000. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the completion of the transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at approximately $114,691,485.60. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,506 shares of company stock worth $10,531,159. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PGR. Keefe, Bruyette & Woods dropped their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Evercore ISI upped their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a report on Tuesday, December 10th. Finally, Bank of America upped their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.65.

Progressive Stock Up 0.2 %

NYSE:PGR opened at $239.58 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $140.35 billion, a PE ratio of 17.41, a PEG ratio of 0.63 and a beta of 0.41. The Progressive Co. has a 52-week low of $175.50 and a 52-week high of $270.62. The stock has a 50-day simple moving average of $248.98 and a 200 day simple moving average of $243.14.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. Progressive’s payout ratio is presently 2.91%.

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.