The Progressive Co. (NYSE:PGR) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC lowered its holdings in The Progressive Co. (NYSE:PGR) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,356 shares of the insurance provider’s stock after selling 104 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Progressive were worth $216,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. lifted its holdings in Progressive by 109.1% in the third quarter. Harbour Investments Inc. now owns 207 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Valley National Advisers Inc. increased its position in shares of Progressive by 143.6% in the fourth quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock valued at $30,000 after buying an additional 112 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Progressive in the first quarter valued at $31,000. Neo Ivy Capital Management purchased a new position in shares of Progressive in the second quarter valued at $35,000. Finally, Arlington Trust Co LLC purchased a new position in shares of Progressive in the third quarter valued at $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PGR shares. Wells Fargo & Company raised their price target on Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Bank of America dropped their price objective on Progressive from $279.00 to $273.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen started coverage on Progressive in a research report on Wednesday, January 10th. They set a “market perform” rating and a $174.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler reiterated an “overweight” rating and set a $240.00 price objective on shares of Progressive in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $211.88.

Insider Buying and Selling

In related news, insider Karen Bailo sold 8,464 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the sale, the insider now owns 32,342 shares of the company’s stock, valued at approximately $6,128,485.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Progressive news, insider Karen Bailo sold 8,464 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total value of $1,603,843.36. Following the completion of the transaction, the insider now owns 32,342 shares in the company, valued at approximately $6,128,485.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick K. Callahan sold 29,675 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the transaction, the insider now owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Progressive Trading Up 0.4 %

NYSE PGR opened at $209.12 on Thursday. The Progressive Co. has a 12 month low of $111.41 and a 12 month high of $212.24. The company has a 50-day moving average of $198.74 and a 200-day moving average of $174.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.31. The company has a market cap of $122.48 billion, a P/E ratio of 21.40, a P/E/G ratio of 0.84 and a beta of 0.35.

Progressive (NYSE:PGR) last posted its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. The firm had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, equities analysts predict that The Progressive Co. will post 11.09 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Wednesday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

About Progressive

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.