Signal Advisors Wealth LLC Grows Holdings in The Progressive Co. (NYSE:PGR)

Signal Advisors Wealth LLC grew its stake in shares of The Progressive Co. (NYSE:PGR) by 42.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,889 shares of the insurance provider’s stock after purchasing an additional 3,534 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Progressive were worth $2,849,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after buying an additional 1,682,213 shares during the period. Jennison Associates LLC lifted its stake in Progressive by 21.6% in the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in Progressive by 75.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after purchasing an additional 641,943 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after purchasing an additional 594,330 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Progressive by 206.8% in the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after purchasing an additional 590,235 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PGR has been the subject of a number of recent research reports. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Roth Mkm raised their price objective on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. TD Cowen lifted their target price on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Bank of America increased their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.24.

Progressive Trading Up 0.1 %

Shares of NYSE:PGR opened at $235.84 on Tuesday. The business has a 50-day moving average price of $251.23 and a 200-day moving average price of $241.78. The stock has a market cap of $138.16 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.70 and a beta of 0.41. The Progressive Co. has a 52-week low of $166.92 and a 52-week high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The company had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. Equities analysts predict that The Progressive Co. will post 13.2 EPS for the current year.

Progressive Announces Dividend

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

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now directly owns 282,958 shares in the company, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 9,066 shares of the 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 transaction, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $114,691,485.60. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,919 shares of company stock valued at $8,222,168. 0.34% of the stock is owned by insiders.

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.