CFO4Life Group LLC Sells 160 Shares of The Progressive Co. (NYSE:PGR)

CFO4Life Group LLC lessened its position in shares of The Progressive Co. (NYSE:PGR) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,545 shares of the insurance provider’s stock after selling 160 shares during the period. CFO4Life Group LLC’s holdings in Progressive were worth $849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ increased its stake in Progressive by 4.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 869,988 shares of the insurance provider’s stock valued at $208,449,000 after purchasing an additional 39,890 shares in the last quarter. Erste Asset Management GmbH increased its stake in Progressive by 33.7% in the fourth quarter. Erste Asset Management GmbH now owns 661,473 shares of the insurance provider’s stock valued at $158,864,000 after purchasing an additional 166,622 shares in the last quarter. Achmea Investment Management B.V. increased its stake in Progressive by 5.4% in the fourth quarter. Achmea Investment Management B.V. now owns 23,949 shares of the insurance provider’s stock valued at $5,739,000 after purchasing an additional 1,224 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Progressive by 73.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,240 shares of the insurance provider’s stock valued at $39,114,000 after purchasing an additional 69,178 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Progressive by 0.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 65,034 shares of the insurance provider’s stock valued at $15,583,000 after purchasing an additional 533 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 1,227 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $281.00, for a total value of $344,787.00. Following the transaction, the executive now directly owns 28,393 shares in the company, valued at $7,978,433. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares in the company, valued at approximately $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. Insiders have sold a total of 62,257 shares of company stock worth $15,752,781 over the last three months. 0.34% of the stock is currently owned by insiders.

Progressive Stock Up 0.2 %

Progressive stock opened at $277.52 on Thursday. The Progressive Co. has a fifty-two week low of $197.77 and a fifty-two week high of $287.49. The stock has a market cap of $162.69 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The firm’s 50-day simple moving average is $256.53 and its 200 day simple moving average is $253.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

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

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s payout ratio is 2.78%.

Analyst Ratings Changes

PGR has been the subject of several research analyst reports. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research note on Thursday, December 26th. BMO Capital Markets reduced their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Barclays lifted their price objective on shares of Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Bank of America reduced their price objective on shares of Progressive from $333.00 to $318.00 and set a “buy” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and a consensus price target of $276.59.

About Progressive

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.