Armstrong Advisory Group Inc. Has $117,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Armstrong Advisory Group Inc. increased its holdings in shares of The Progressive Co. (NYSE:PGR) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 489 shares of the insurance provider’s stock after purchasing an additional 70 shares during the period. Armstrong Advisory Group Inc.’s holdings in Progressive were worth $117,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PGR. J.W. Cole Advisors Inc. bought a new stake in shares of Progressive in the 2nd quarter valued at $230,000. Axxcess Wealth Management LLC increased its stake in Progressive by 376.0% in the second quarter. Axxcess Wealth Management LLC now owns 6,060 shares of the insurance provider’s stock valued at $1,259,000 after purchasing an additional 4,787 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Progressive by 32.7% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 4,629 shares of the insurance provider’s stock valued at $961,000 after purchasing an additional 1,140 shares during the period. Argent Trust Co boosted its position in shares of Progressive by 7.2% during the 2nd quarter. Argent Trust Co now owns 1,827 shares of the insurance provider’s stock worth $379,000 after purchasing an additional 123 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Progressive by 9.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,063 shares of the insurance provider’s stock valued at $3,129,000 after buying an additional 1,329 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PGR. TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Evercore ISI increased their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Bank of America upped their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.24.

Insider Buying and Selling at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the company’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 $164,870.10. Following the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,919 shares of company stock worth $8,222,168 over the last three months. 0.34% of the stock is currently owned by insiders.

Progressive Stock Performance

Shares of Progressive stock opened at $245.57 on Friday. The business’s fifty day simple moving average is $250.72 and its 200 day simple moving average is $242.01. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 12 month low of $166.92 and a 12 month high of $270.62. The firm has a market capitalization of $143.86 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The company had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, analysts anticipate that The Progressive Co. will post 13.52 EPS for the current year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is 2.91%.

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.