JSF Financial LLC Buys 164 Shares of The Progressive Co. (NYSE:PGR)

JSF Financial LLC lifted its stake in The Progressive Co. (NYSE:PGR) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,799 shares of the insurance provider’s stock after purchasing an additional 164 shares during the quarter. JSF Financial LLC’s holdings in Progressive were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Webster Bank N. A. bought a new position in Progressive in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in Progressive in the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC lifted its position in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares in the last quarter. Valley National Advisers Inc. raised its stake in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. raised its stake in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Trading Down 0.4 %

Shares of PGR stock opened at $249.61 on Tuesday. The Progressive Co. has a 12-month low of $180.72 and a 12-month high of $270.62. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $245.24 and its 200-day moving average price is $246.02. The stock has a market capitalization of $146.22 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities research analysts predict that The Progressive Co. will post 14.44 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio is currently 2.78%.

Insider Buying and Selling at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the sale, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at $67,530,756.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,361 shares of company stock worth $13,983,575 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Bank of America boosted their target price on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a research note on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

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.