The Progressive Co. (NYSE:PGR) Position Raised by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its position in shares of The Progressive Co. (NYSE:PGR) by 5.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,089 shares of the insurance provider’s stock after acquiring an additional 274 shares during the period. Atomi Financial Group Inc.’s holdings in Progressive were worth $1,219,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Davis Capital Management bought a new position in Progressive in the 3rd quarter worth about $25,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the period. Kimelman & Baird LLC bought a new position in Progressive in the 2nd quarter worth approximately $36,000. Friedenthal Financial bought a new stake in Progressive during the 3rd quarter valued at $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Progressive during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling

In other news, insider Andrew J. Quigg sold 681 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the sale, the insider now owns 33,612 shares in the company, 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 at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares in the company, valued at $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,938 shares of company stock valued at $7,473,490. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen raised their price target on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. BMO Capital Markets dropped their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. increased their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Morgan Stanley dropped their target price on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group increased their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $274.65.

Progressive Price Performance

NYSE PGR opened at $240.64 on Wednesday. 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 1 year low of $169.57 and a 1 year high of $270.62. The company has a market cap of $140.97 billion, a PE ratio of 17.49, a PEG ratio of 0.64 and a beta of 0.41. The stock’s 50-day moving average price is $249.85 and its two-hundred day moving average price is $242.95.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.