Greykasell Wealth Strategies Inc. purchased a new position in shares of The Progressive Co. (NYSE:PGR – Free Report) 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
Read Our Latest Stock Analysis on Progressive
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 – Get Free Report) 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.
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