Yarger Wealth Strategies LLC Invests $227,000 in The Progressive Co. (NYSE:PGR)

Yarger Wealth Strategies LLC bought a new position in shares of The Progressive Co. (NYSE:PGR) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,423 shares of the insurance provider’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently modified their holdings of PGR. Harbour Investments Inc. grew its holdings in shares of 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 purchasing an additional 108 shares during the period. Sunbelt Securities Inc. acquired a new stake in Progressive in the first quarter valued at approximately $31,000. DecisionPoint Financial LLC acquired a new stake in Progressive in the second quarter valued at approximately $35,000. Neo Ivy Capital Management acquired a new stake in Progressive in the second quarter valued at approximately $35,000. Finally, Arlington Trust Co LLC purchased a new position in shares of Progressive during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Progressive from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Piper Sandler increased their price target on Progressive from $188.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Citigroup raised their target price on Progressive from $192.00 to $202.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Bank of America raised their target price on Progressive from $256.00 to $261.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group raised their target price on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $186.50.

Progressive Trading Up 0.3 %

Progressive stock opened at $206.82 on Friday. The stock has a market cap of $121.13 billion, a PE ratio of 31.43, a P/E/G ratio of 0.94 and a beta of 0.34. The stock has a 50-day moving average price of $189.55 and a 200 day moving average price of $167.28. The Progressive Co. has a 52 week low of $111.41 and a 52 week high of $208.19. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.35.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.43 by $0.53. The company had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.10 billion. Progressive had a return on equity of 21.25% and a net margin of 6.28%. During the same quarter in the previous year, the business earned $1.52 EPS. Equities research analysts predict that The Progressive Co. will post 9.82 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, April 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Wednesday, April 3rd. Progressive’s dividend payout ratio (DPR) is 12.92%.

Insider Buying and Selling at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 13,110 shares of Progressive stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total value of $2,127,228.60. Following the completion of the sale, the chief executive officer now owns 465,737 shares in the company, valued at approximately $75,570,485.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Andrew J. Quigg sold 1,210 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total transaction of $196,334.60. Following the completion of the sale, the insider now owns 27,247 shares in the company, valued at approximately $4,421,098.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 13,110 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total value of $2,127,228.60. Following the sale, the chief executive officer now owns 465,737 shares of the company’s stock, valued at approximately $75,570,485.62. The disclosure for this sale can be found here. Insiders sold 58,949 shares of company stock worth $10,671,740 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.