Aptus Capital Advisors LLC Boosts Holdings in The Progressive Corporation $PGR

Aptus Capital Advisors LLC lifted its holdings in The Progressive Corporation (NYSE:PGR) by 5.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 227,014 shares of the insurance provider’s stock after acquiring an additional 12,131 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Progressive were worth $56,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after buying an additional 457 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Progressive in the 4th quarter valued at about $269,000. Bison Wealth LLC boosted its holdings in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 80 shares during the period. Sigma Planning Corp grew its position in Progressive by 19.1% during the 2nd quarter. Sigma Planning Corp now owns 5,212 shares of the insurance provider’s stock worth $1,391,000 after acquiring an additional 836 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in Progressive by 28.9% in the 2nd quarter. NewSquare Capital LLC now owns 245 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 55 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 3,105 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the transaction, the executive owned 26,249 shares in the company, valued at approximately $5,363,983.15. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maribel Pumarejo sold 739 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total value of $150,201.75. The SEC filing for this sale provides additional information. Insiders sold a total of 9,103 shares of company stock worth $1,883,924 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Progressive from $214.00 to $205.00 and set an “underweight” rating for the company in a research note on Wednesday, January 28th. Barclays raised shares of Progressive from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $257.00 to $265.00 in a research report on Thursday, January 8th. Mizuho set a $240.00 price target on shares of Progressive in a report on Wednesday, January 14th. Zacks Research upgraded shares of Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Citigroup dropped their target price on shares of Progressive from $300.60 to $261.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Progressive has a consensus rating of “Hold” and a consensus target price of $245.50.

Progressive Trading Down 0.4%

Shares of PGR opened at $210.55 on Friday. The Progressive Corporation has a 1-year low of $197.92 and a 1-year high of $292.99. The company has a current ratio of 0.35, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $209.31 and its 200-day moving average price is $224.42. The firm has a market capitalization of $123.36 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 9.24 and a beta of 0.33.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is 2.08%.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.