FourThought Financial Partners LLC Invests $411,000 in The Progressive Co. (NYSE:PGR)

FourThought Financial Partners LLC acquired a new position in The Progressive Co. (NYSE:PGR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,714 shares of the insurance provider’s stock, valued at approximately $411,000.

Several other institutional investors have also recently made changes to their positions in the stock. Private Advisor Group LLC raised its stake in Progressive by 10.9% during the 3rd quarter. Private Advisor Group LLC now owns 11,958 shares of the insurance provider’s stock valued at $3,034,000 after purchasing an additional 1,176 shares during the period. Assenagon Asset Management S.A. raised its stake in Progressive by 10.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 18,371 shares of the insurance provider’s stock valued at $4,662,000 after purchasing an additional 1,789 shares during the period. Arkadios Wealth Advisors raised its stake in Progressive by 113.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,247 shares of the insurance provider’s stock valued at $824,000 after purchasing an additional 1,728 shares during the period. PFG Investments LLC bought a new stake in Progressive during the 3rd quarter valued at approximately $244,000. Finally, TCI Wealth Advisors Inc. bought a new stake in Progressive during the 3rd quarter valued at approximately $201,000. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

PGR has been the topic of several recent analyst reports. Roth Mkm lifted their target price on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley increased their price target on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. TD Cowen upped their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.59.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,361 shares of company stock valued at $13,983,575. Insiders own 0.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $278.62 on Wednesday. The firm has a market capitalization of $163.22 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.70 and a beta of 0.42. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $279.93. The business has a 50 day simple moving average of $247.97 and a 200-day simple moving average of $250.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities analysts forecast that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.78%.

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.