The Progressive Co. (NYSE:PGR) Position Reduced by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC reduced its position in The Progressive Co. (NYSE:PGR) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,482 shares of the insurance provider’s stock after selling 342 shares during the period. Progressive comprises approximately 0.6% of ForthRight Wealth Management LLC’s holdings, making the stock its 26th largest position. ForthRight Wealth Management LLC’s holdings in Progressive were worth $1,793,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Albion Financial Group UT grew its position in Progressive by 5.3% during the 4th quarter. Albion Financial Group UT now owns 1,137 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 57 shares in the last quarter. Advisory Alpha LLC boosted its position in shares of Progressive by 13.6% in the fourth quarter. Advisory Alpha LLC now owns 936 shares of the insurance provider’s stock worth $224,000 after buying an additional 112 shares during the period. MBM Wealth Consultants LLC grew its holdings in shares of Progressive by 3.2% during the fourth quarter. MBM Wealth Consultants LLC now owns 6,061 shares of the insurance provider’s stock valued at $1,458,000 after buying an additional 188 shares in the last quarter. Dakota Wealth Management raised its position in Progressive by 3.1% during the fourth quarter. Dakota Wealth Management now owns 126,270 shares of the insurance provider’s stock valued at $30,256,000 after buying an additional 3,774 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Progressive by 16.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 223,734 shares of the insurance provider’s stock worth $53,609,000 after acquiring an additional 31,390 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at approximately $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,938 shares of company stock worth $7,473,490. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

NYSE PGR opened at $240.64 on Wednesday. The Progressive Co. has a 1 year low of $169.57 and a 1 year high of $270.62. The company has a fifty day simple moving average of $249.42 and a 200 day simple moving average of $243.16. 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 company has a market cap of $140.97 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.63 and a beta of 0.41.

Progressive Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on PGR shares. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley dropped their price objective on shares of Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays decreased their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Bank of America lifted their price objective on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $274.65.

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.