TrueMark Investments LLC Acquires Shares of 3,549 The Progressive Corporation $PGR

TrueMark Investments LLC acquired a new stake in shares of The Progressive Corporation (NYSE:PGR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,549 shares of the insurance provider’s stock, valued at approximately $808,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PGR. Davis Capital Management bought a new position in Progressive in the 3rd quarter valued at about $25,000. Dagco Inc. purchased a new stake in shares of Progressive in the fourth quarter worth approximately $28,000. Ameriflex Group Inc. raised its stake in shares of Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Howard Hughes Medical Institute bought a new position in shares of Progressive in the second quarter valued at approximately $34,000. Finally, TruNorth Capital Management LLC boosted its position in shares of Progressive by 450.0% during the third quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock valued at $41,000 after buying an additional 135 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Activity at Progressive

In other Progressive news, insider Maribel Pumarejo sold 739 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total value of $150,201.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew J. Quigg sold 1,649 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the transaction, the insider directly owned 39,626 shares of the company’s stock, valued at $8,097,573.10. This represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,687 shares of company stock valued at $2,413,044 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PGR shares. Roth Mkm set a $235.00 price target on Progressive in a report on Thursday, February 19th. Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Progressive in a research note on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $225.00 target price on shares of Progressive in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $239.22.

Progressive Stock Performance

Shares of Progressive stock opened at $198.41 on Monday. The firm has a market capitalization of $116.06 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 5.74 and a beta of 0.33. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $205.72 and its 200 day simple moving average is $219.30. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $289.96.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive’s payout ratio is 2.08%.

About Progressive

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.