The Progressive Corporation $PGR Shares Acquired by CoreCap Advisors LLC

CoreCap Advisors LLC grew its holdings in shares of The Progressive Corporation (NYSE:PGR) by 30.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,750 shares of the insurance provider’s stock after purchasing an additional 4,815 shares during the period. CoreCap Advisors LLC’s holdings in Progressive were worth $4,725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after purchasing an additional 457 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Progressive during the fourth quarter worth $269,000. Bison Wealth LLC lifted its position in Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 80 shares during the period. Global Retirement Partners LLC purchased a new stake in Progressive in the second quarter valued at $1,039,000. Finally, J.W. Cole Advisors Inc. boosted its holdings in Progressive by 216.7% in the second quarter. J.W. Cole Advisors Inc. now owns 10,610 shares of the insurance provider’s stock valued at $2,831,000 after purchasing an additional 7,260 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 2.2%

Shares of NYSE:PGR opened at $198.41 on Friday. The business has a fifty day moving average of $205.72 and a two-hundred day moving average of $219.65. The Progressive Corporation has a 52-week low of $197.92 and a 52-week high of $289.96. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $116.06 billion, a P/E ratio of 10.31, a PEG ratio of 5.86 and a beta of 0.33.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive’s payout ratio is currently 2.08%.

Insider Transactions at Progressive

In other news, insider Maribel Pumarejo sold 739 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total value of $150,201.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CIO Jonathan S. Bauer sold 3,105 shares of Progressive stock in a transaction on Wednesday, January 21st. The shares were 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 of the company’s stock, valued at approximately $5,363,983.15. This trade represents a 10.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,687 shares of company stock valued at $2,413,044. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of recent research reports. Mizuho reduced their price objective on Progressive from $235.00 to $223.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. JPMorgan Chase & Co. cut their price target on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Zacks Research upgraded Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $225.00 price objective on shares of Progressive in a report on Monday, February 23rd. Finally, Evercore restated a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $239.22.

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.