Oak Harvest Investment Services Sells 309 Shares of The Progressive Co. (NYSE:PGR)

Oak Harvest Investment Services lessened its position in shares of The Progressive Co. (NYSE:PGR) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,299 shares of the insurance provider’s stock after selling 309 shares during the period. Oak Harvest Investment Services’ holdings in Progressive were worth $6,302,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. boosted its position in shares of Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC boosted its stake in Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after acquiring an additional 42 shares in the last quarter. Castleview Partners LLC boosted its position in shares of Progressive by 2.7% during the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 45 shares in the last quarter. Washington Trust Bank raised its position in shares of Progressive by 4.6% during the third quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after purchasing an additional 45 shares during the period. Finally, Kelleher Financial Advisors increased its holdings in Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Evercore ISI increased their price objective on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, TD Cowen boosted their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and an average target price of $275.29.

Progressive Stock Performance

NYSE:PGR opened at $249.20 on Friday. The firm’s fifty day simple moving average is $247.67 and its 200 day simple moving average is $244.27. The stock has a market cap of $145.98 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 0.64 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. The Progressive Co. has a twelve month low of $176.37 and a twelve month high of $270.62.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 34.32% and a net margin of 11.25%. As a group, research analysts predict that The Progressive Co. will post 14.03 EPS for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Insider Buying and Selling at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the transaction, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,506 shares of company stock valued at $13,031,159. Corporate insiders own 0.34% of the company’s stock.

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.