Linden Thomas Advisory Services LLC Purchases 936 Shares of The Progressive Co. (NYSE:PGR)

Linden Thomas Advisory Services LLC increased its position in The Progressive Co. (NYSE:PGR) by 31.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,940 shares of the insurance provider’s stock after purchasing an additional 936 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Progressive were worth $944,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dorsey Wright & Associates bought a new position in shares of Progressive during the 2nd quarter worth approximately $1,466,000. Kathmere Capital Management LLC acquired a new position in shares of Progressive in the second quarter valued at $399,000. SkyView Investment Advisors LLC increased its holdings in shares of Progressive by 11.1% in the second quarter. SkyView Investment Advisors LLC now owns 7,883 shares of the insurance provider’s stock valued at $1,637,000 after purchasing an additional 787 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Progressive by 9.9% during the 2nd quarter. Ascent Group LLC now owns 36,937 shares of the insurance provider’s stock worth $7,672,000 after buying an additional 3,313 shares during the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in shares of Progressive during the 2nd quarter worth about $8,820,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Down 0.4 %

NYSE PGR opened at $238.58 on Friday. The Progressive Co. has a fifty-two week low of $175.50 and a fifty-two week high of $270.62. The business has a fifty day moving average price of $248.27 and a two-hundred day moving average price of $243.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $139.76 billion, a PE ratio of 17.34, a PEG ratio of 0.62 and a beta of 0.41.

Progressive Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the sale, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Quigg sold 962 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $234,044.98. Following the completion of the transaction, the insider now owns 34,787 shares of the company’s stock, valued at $8,463,329.23. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,506 shares of company stock worth $10,531,159 over the last 90 days. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods dropped their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a report on Monday, December 16th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. 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 MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and a consensus 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.