RiverFront Investment Group LLC Has $233,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

RiverFront Investment Group LLC grew its position in shares of The Progressive Co. (NYSE:PGR) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 971 shares of the insurance provider’s stock after buying an additional 73 shares during the quarter. RiverFront Investment Group LLC’s holdings in Progressive were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its stake in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC lifted its position in Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after buying an additional 42 shares in the last quarter. Washington Trust Bank grew its holdings in Progressive by 4.1% during the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 42 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after acquiring an additional 44 shares during the last quarter. Finally, Monument Capital Management increased its position in Progressive by 0.3% in the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after acquiring an additional 44 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insider Activity at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 1,542 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $282.66, for a total transaction of $435,861.72. Following the transaction, the chief financial officer now owns 268,024 shares in the company, valued at $75,759,663.84. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,255 shares of company stock valued at $16,877,471. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR opened at $279.13 on Friday. The firm’s 50 day moving average price is $265.32 and its two-hundred day moving average price is $255.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99. The firm has a market cap of $163.64 billion, a P/E ratio of 19.38, a PEG ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s payout ratio is 2.78%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PGR shares. Morgan Stanley raised their price target on shares of Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a research note on Thursday, December 26th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research note on Tuesday, December 10th. Barclays lifted their price objective on Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 13th. Finally, Bank of America cut their target price on shares of Progressive from $318.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $281.06.

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.