The Progressive Co. (NYSE:PGR) Shares Sold by Sachetta LLC

Sachetta LLC reduced its stake in The Progressive Co. (NYSE:PGR) by 43.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 118 shares of the insurance provider’s stock after selling 91 shares during the quarter. Sachetta LLC’s holdings in Progressive were worth $28,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Dorsey Wright & Associates acquired a new stake in shares of Progressive during the second quarter worth about $1,466,000. Kathmere Capital Management LLC acquired a new stake in Progressive during the 2nd quarter worth approximately $399,000. SkyView Investment Advisors LLC boosted its position in Progressive by 11.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 7,883 shares of the insurance provider’s stock valued at $1,637,000 after buying an additional 787 shares during the period. Ascent Group LLC grew its stake in shares of Progressive by 9.9% in the second quarter. Ascent Group LLC now owns 36,937 shares of the insurance provider’s stock worth $7,672,000 after acquiring an additional 3,313 shares in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of Progressive during the second quarter worth $8,820,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PGR shares. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a report on Thursday, December 26th. TD Cowen boosted their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods reduced their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Bank of America boosted their price target on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Jefferies Financial Group raised their price objective on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Progressive has an average rating of “Moderate Buy” and an average price target of $274.65.

Progressive Stock Down 0.4 %

Shares of NYSE PGR opened at $238.58 on Friday. The stock has a market cap of $139.76 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The Progressive Co. has a 52-week low of $175.50 and a 52-week high of $270.62. The business has a 50-day moving average price of $248.27 and a 200 day moving average price of $243.31. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.17%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60. Following the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Monday, December 30th. The stock was 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 owns 282,958 shares of the company’s stock, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,506 shares of company stock worth $10,531,159 in the last 90 days. 0.34% of the stock is owned by insiders.

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.