Rowlandmiller & PARTNERS.ADV Sells 3,959 Shares of The Progressive Co. (NYSE:PGR)

Rowlandmiller & PARTNERS.ADV lowered its stake in shares of The Progressive Co. (NYSE:PGR) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,040 shares of the insurance provider’s stock after selling 3,959 shares during the period. Progressive accounts for 5.8% of Rowlandmiller & PARTNERS.ADV’s investment portfolio, making the stock its 2nd largest position. Rowlandmiller & PARTNERS.ADV’s holdings in Progressive were worth $27,804,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Webster Bank N. A. purchased a new stake in Progressive in the fourth quarter valued at $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive in the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares during the period. Valley National Advisers Inc. raised its holdings in shares of Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares during the period. Finally, Independence Bank of Kentucky raised its holdings in shares of Progressive by 1,650.0% in the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock valued at $42,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 0.6 %

Shares of NYSE PGR opened at $265.99 on Monday. The stock has a market cap of $155.82 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 52-week low of $186.94 and a 52-week high of $270.79. The business has a 50-day moving average price of $246.89 and a 200 day moving average price of $249.35.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities research analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

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 dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s payout ratio is 2.78%.

Analysts Set New Price Targets

Several brokerages have weighed in on PGR. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Evercore ISI upped their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a report on Tuesday, December 10th. Finally, Bank of America upped their price objective on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $276.12.

Insiders Place Their Bets

In other 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 completion of the sale, the insider now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 11,021 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $2,681,299.09. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is owned by company insiders.

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.