Enclave Advisors LLC Invests $236,000 in The Progressive Co. (NYSE:PGR)

Enclave Advisors LLC purchased a new stake in shares of The Progressive Co. (NYSE:PGR) in the fourth quarter, Holdings Channel reports. The firm purchased 983 shares of the insurance provider’s stock, valued at approximately $236,000.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Progressive by 13.2% in the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after acquiring an additional 1,682,213 shares during the period. Jennison Associates LLC grew its stake in shares of 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 purchasing an additional 842,109 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings 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 position in Progressive by 29,701.6% during 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 during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in 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 buying an additional 590,235 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s 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 $964,042.20. The trade was a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the 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 sale, the chief financial officer now owns 282,958 shares in the company, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,938 shares of company stock valued at $7,473,490. 0.34% of the stock is owned by insiders.

Progressive Stock Down 1.2 %

Shares of NYSE:PGR opened at $240.64 on Wednesday. The Progressive Co. has a 12-month low of $169.57 and a 12-month high of $270.62. The stock has a market capitalization of $140.97 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 0.64 and a beta of 0.41. The stock has a fifty day simple moving average of $249.85 and a two-hundred day simple moving average of $242.95. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s payout ratio is 2.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PGR shares. Keefe, Bruyette & Woods reduced their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a research report on Thursday, December 26th. TD Cowen raised their target price on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price target on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $274.65.

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.