Asset Dedication LLC Has $1.41 Million Stock Position in The Progressive Co. (NYSE:PGR)

Asset Dedication LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,880 shares of the insurance provider’s stock after buying an additional 269 shares during the period. Asset Dedication LLC’s holdings in Progressive were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Progressive during the 4th quarter valued at about $690,000. BSW Wealth Partners lifted its holdings in Progressive by 2.5% in the 4th quarter. BSW Wealth Partners now owns 2,119 shares of the insurance provider’s stock worth $508,000 after purchasing an additional 52 shares during the last quarter. Falcon Wealth Planning acquired a new stake in Progressive in the 4th quarter worth approximately $234,000. Bensler LLC lifted its holdings in Progressive by 4.1% in the 4th quarter. Bensler LLC now owns 62,709 shares of the insurance provider’s stock worth $15,026,000 after purchasing an additional 2,457 shares during the last quarter. Finally, Stonegate Investment Group LLC acquired a new stake in Progressive in the 4th quarter worth approximately $325,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,506 shares of company stock valued at $10,531,159. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of NYSE PGR opened at $244.86 on Wednesday. The Progressive Co. has a 52 week low of $175.50 and a 52 week high of $270.62. The stock has a market capitalization of $143.44 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The stock has a 50 day moving average price of $247.89 and a 200 day moving average price of $244.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s payout ratio is 2.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets cut their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Evercore ISI upped their price objective on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $274.65.

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.