5,029 Shares in The Progressive Corporation $PGR Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new position in shares of The Progressive Corporation (NYSE:PGR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,029 shares of the insurance provider’s stock, valued at approximately $1,145,000.

A number of other institutional investors have also added to or reduced their stakes in PGR. Brighton Jones LLC grew its position in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Progressive during the fourth quarter worth about $269,000. Bison Wealth LLC boosted its holdings in Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 80 shares in the last quarter. HUB Investment Partners LLC boosted its holdings in Progressive by 7.8% during the second quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock valued at $609,000 after purchasing an additional 166 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Progressive by 12.0% during the second quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after purchasing an additional 1,622 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Performance

NYSE:PGR opened at $197.00 on Thursday. The Progressive Corporation has a 1 year low of $191.75 and a 1 year high of $289.96. The firm has a 50 day moving average of $200.07 and a 200-day moving average of $210.03. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $115.12 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 7.28 and a beta of 0.31.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $23.51 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. Progressive’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Progressive Corporation will post 16.36 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s payout ratio is 2.03%.

Insider Buying and Selling

In other news, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares in the company, valued at approximately $6,857,776. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Carl G. Joyce sold 270 shares of Progressive stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the transaction, the chief accounting officer owned 558 shares of the company’s stock, valued at $115,227. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,928 shares of company stock valued at $831,251 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of recent research reports. Royal Bank Of Canada set a $208.00 price objective on Progressive in a report on Friday, May 22nd. Barclays set a $247.00 price objective on Progressive in a report on Wednesday, March 18th. Argus raised Progressive to a “hold” rating in a report on Thursday, March 5th. Bank of America decreased their price objective on Progressive from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $259.00 price objective on shares of Progressive in a report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $238.11.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.