The Progressive Co. (NYSE:PGR) Shares Bought by Oakworth Capital Inc.

Oakworth Capital Inc. boosted its position in shares of The Progressive Co. (NYSE:PGR) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 643 shares of the insurance provider’s stock after buying an additional 117 shares during the period. Oakworth Capital Inc.’s holdings in Progressive were worth $102,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Compass Ion Advisors LLC increased its position in Progressive by 0.8% during the fourth quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock worth $1,186,000 after buying an additional 59 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of Progressive by 10.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 670 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 62 shares during the last quarter. Quent Capital LLC grew its stake in shares of Progressive by 19.3% in the 4th quarter. Quent Capital LLC now owns 427 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 69 shares during the last quarter. BSW Wealth Partners grew its stake in shares of Progressive by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,727 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 69 shares during the last quarter. Finally, Invesco LLC grew its stake in shares of Progressive by 2.0% in the 4th quarter. Invesco LLC now owns 3,537 shares of the insurance provider’s stock valued at $563,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Progressive from $190.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. HSBC lifted their target price on Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Piper Sandler restated an “overweight” rating and issued a $240.00 price target on shares of Progressive in a research note on Monday, April 1st. Roth Mkm lifted their price target on Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, The Goldman Sachs Group lifted their price target on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One 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, Progressive currently has a consensus rating of “Hold” and an average price target of $211.88.

Insider Transactions at Progressive

In other news, insider Karen Bailo sold 8,464 shares of the business’s stock in a transaction 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 directly owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Patrick K. Callahan sold 29,675 shares of the company’s stock in a transaction 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 directly owns 15,189 shares in the company, valued at $2,889,859.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karen Bailo sold 8,464 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were 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 of the company’s stock, valued at $6,128,485.58. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $209.12 on Thursday. The stock has a fifty day moving average price of $198.74 and a 200 day moving average price of $174.33. The stock has a market cap of $122.48 billion, a PE ratio of 21.40, a P/E/G ratio of 0.84 and a beta of 0.35. The Progressive Co. has a 1 year low of $111.41 and a 1 year high of $212.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.74. The firm had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. Progressive’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. Sell-side analysts forecast that The Progressive Co. will post 11.09 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

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.