Dakota Wealth Management Purchases 3,774 Shares of The Progressive Co. (NYSE:PGR)

Dakota Wealth Management grew its position in shares of The Progressive Co. (NYSE:PGR) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,270 shares of the insurance provider’s stock after buying an additional 3,774 shares during the quarter. Progressive accounts for approximately 0.7% of Dakota Wealth Management’s investment portfolio, making the stock its 29th biggest holding. Dakota Wealth Management’s holdings in Progressive were worth $30,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after buying an additional 391 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after purchasing an additional 3,720 shares in the last quarter. Diversified Trust Co raised its position in shares of Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after purchasing an additional 11,770 shares during the period. Sycomore Asset Management lifted its stake in shares of Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after buying an additional 2,450 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Progressive by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after buying an additional 330,667 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their target price on Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research report on Tuesday, December 10th. Finally, Morgan Stanley decreased their target price on shares of Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $274.65.

Progressive Stock Performance

Progressive stock opened at $240.64 on Wednesday. The firm has a fifty day simple moving average of $249.85 and a two-hundred day simple moving average of $242.95. The Progressive Co. has a twelve month low of $169.57 and a twelve month high of $270.62. The company has a market capitalization of $140.97 billion, a PE ratio of 17.49, a P/E/G ratio of 0.63 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

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 dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.17%. Progressive’s payout ratio is 2.91%.

Insiders Place Their Bets

In related news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,938 shares of company stock valued at $7,473,490 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Company 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.