Greykasell Wealth Strategies Inc. Invests $1.28 Million in The Progressive Co. (NYSE:PGR)

Greykasell Wealth Strategies Inc. purchased a new position in shares of The Progressive Co. (NYSE:PGR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,343 shares of the insurance provider’s stock, valued at approximately $1,280,000.

Other large investors also recently modified their holdings of the company. Webster Bank N. A. purchased a new position in Progressive in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new position in Progressive in the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC grew its stake 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 buying an additional 41 shares in the last quarter. Valley National Advisers Inc. grew its stake in Progressive by 3,000.0% in 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 in the last quarter. Finally, Atala Financial Inc purchased a new position in Progressive in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

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 dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the completion of the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,257 shares of company stock worth $15,752,781. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PGR has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company raised their price target on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. Finally, Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $281.76.

Progressive Stock Performance

Progressive stock opened at $283.87 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $166.41 billion, a PE ratio of 19.71, a P/E/G ratio of 1.70 and a beta of 0.35. The firm has a fifty day simple moving average of $258.14 and a two-hundred day simple moving average of $253.97. The Progressive Co. has a twelve month low of $199.57 and a twelve month high of $287.49.

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

Progressive Dividend Announcement

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

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.