Kathmere Capital Management LLC Has $759,000 Stock Position in The Progressive Co. (NYSE:PGR)

Kathmere Capital Management LLC increased its position in The Progressive Co. (NYSE:PGR) by 49.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,168 shares of the insurance provider’s stock after buying an additional 1,045 shares during the period. Kathmere Capital Management LLC’s holdings in Progressive were worth $759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Davis Capital Management acquired a new stake in Progressive in the third quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Progressive during the 2nd quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Progressive during the third quarter worth $49,000. Finally, Friedenthal Financial acquired a new position in Progressive during the third quarter worth $49,000. 85.34% of the stock is owned by institutional investors.

Insider Activity at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive 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 $46,241.10. Following the completion of the transaction, the chief accounting officer now directly owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the 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 sale, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,919 shares of company stock worth $8,222,168. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PGR. Wells Fargo & Company boosted their target price on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.24.

Progressive Trading Up 1.0 %

Shares of PGR stock opened at $242.17 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a market cap of $141.87 billion, a P/E ratio of 17.60, a PEG ratio of 0.70 and a beta of 0.41. The company has a 50 day moving average of $251.06 and a 200-day moving average of $242.00. The Progressive Co. has a 12-month low of $166.92 and a 12-month high of $270.62.

Progressive (NYSE:PGR) last released its 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. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The business had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Sell-side analysts anticipate that The Progressive Co. will post 13.2 earnings per share for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

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.