Kapstone Financial Advisors LLC Purchases 80 Shares of The Progressive Co. (NYSE:PGR)

Kapstone Financial Advisors LLC raised its position in shares of The Progressive Co. (NYSE:PGR) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,550 shares of the insurance provider’s stock after acquiring an additional 80 shares during the quarter. Kapstone Financial Advisors LLC’s holdings in Progressive were worth $382,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Webster Bank N. A. bought a new stake in Progressive during the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive in the 4th quarter worth approximately $28,000. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its position in shares of Progressive by 1,650.0% in the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 165 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Transactions at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $14,102,075 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PGR shares. Keefe, Bruyette & Woods dropped their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. BMO Capital Markets dropped their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Roth Mkm upped their price objective on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. upped their price objective on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley upped their price objective on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.59.

Progressive Price Performance

Shares of PGR opened at $284.95 on Tuesday. The firm has a market cap of $166.93 billion, a PE ratio of 19.79, a P/E/G ratio of 1.70 and a beta of 0.42. 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 fifty day simple moving average of $251.13 and a two-hundred day simple moving average of $251.57. The Progressive Co. has a 1-year low of $187.32 and a 1-year high of $285.28.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping 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%. On average, equities analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive’s dividend payout ratio (DPR) is 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.