Cardinal Strategic Wealth Guidance Purchases 1,605 Shares of The Progressive Co. (NYSE:PGR)

Cardinal Strategic Wealth Guidance boosted its position in The Progressive Co. (NYSE:PGR) by 168.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,555 shares of the insurance provider’s stock after purchasing an additional 1,605 shares during the period. Cardinal Strategic Wealth Guidance’s holdings in Progressive were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PGR. Brookstone Capital Management grew its position in Progressive by 16.6% in the 3rd quarter. Brookstone Capital Management now owns 1,055 shares of the insurance provider’s stock valued at $268,000 after acquiring an additional 150 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Progressive by 5.6% in the third quarter. Valeo Financial Advisors LLC now owns 3,966 shares of the insurance provider’s stock worth $1,006,000 after purchasing an additional 212 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Progressive by 33.6% in the 3rd quarter. Gateway Investment Advisers LLC now owns 2,407 shares of the insurance provider’s stock worth $611,000 after buying an additional 605 shares during the period. Ritholtz Wealth Management lifted its holdings in Progressive by 5.4% during the 3rd quarter. Ritholtz Wealth Management now owns 7,270 shares of the insurance provider’s stock valued at $1,845,000 after buying an additional 375 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Progressive by 98.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 11,510 shares of the insurance provider’s stock valued at $2,921,000 after buying an additional 5,697 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other news, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $247.06, for a total value of $952,416.30. Following the completion of the sale, the insider now directly owns 39,040 shares in the company, valued at $9,645,222.40. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive 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 $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,361 shares of company stock valued at $13,983,575. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. TD Cowen lifted their price objective on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Evercore ISI raised their target price on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.71.

Progressive Trading Down 0.4 %

Shares of Progressive stock opened at $249.61 on Tuesday. The Progressive Co. has a twelve month low of $180.72 and a twelve month high of $270.62. The firm’s 50-day moving average price is $245.24 and its 200 day moving average price is $246.02. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $146.22 billion, a PE ratio of 17.33, a P/E/G ratio of 0.64 and a beta of 0.42.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, sell-side analysts predict that The Progressive Co. will post 14.44 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is 2.78%.

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.