One Plus One Wealth Management LLC Raises Holdings in The Progressive Co. (NYSE:PGR)

One Plus One Wealth Management LLC lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,452 shares of the insurance provider’s stock after buying an additional 203 shares during the period. One Plus One Wealth Management LLC’s holdings in Progressive were worth $411,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sycomore Asset Management raised its stake in shares of Progressive by 42.8% during the 4th quarter. Sycomore Asset Management now owns 51,770 shares of the insurance provider’s stock worth $13,066,000 after buying an additional 15,512 shares in the last quarter. Vivid Wealth Management LLC purchased a new position in shares of Progressive during the 4th quarter worth approximately $2,143,000. Van ECK Associates Corp raised its stake in shares of Progressive by 3.4% during the 4th quarter. Van ECK Associates Corp now owns 16,199 shares of the insurance provider’s stock worth $3,881,000 after buying an additional 527 shares in the last quarter. Allstate Corp purchased a new position in shares of Progressive during the 4th quarter worth approximately $4,205,000. Finally, Baird Financial Group Inc. raised its stake in shares of Progressive by 3.1% during the 4th quarter. Baird Financial Group Inc. now owns 3,667,903 shares of the insurance provider’s stock worth $878,866,000 after buying an additional 111,659 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 1,696 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $282.66, for a total transaction of $479,391.36. Following the sale, the executive now owns 26,697 shares in the company, valued at approximately $7,546,174.02. This represents a 5.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John P. Sauerland sold 1,542 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $282.66, for a total value of $435,861.72. Following the sale, the chief financial officer now owns 268,024 shares in the company, valued at $75,759,663.84. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock worth $10,367,074. 0.34% of the stock is owned by insiders.

Progressive Price Performance

Shares of NYSE:PGR opened at $279.19 on Friday. The business’s fifty day moving average price is $276.19 and its two-hundred day moving average price is $264.49. The stock has a market cap of $163.67 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The Progressive Co. has a one year low of $201.34 and a one year high of $292.99.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.28 by $0.37. The firm had revenue of $22.21 billion for the quarter, compared to analysts’ expectations of $21.87 billion. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PGR. Barclays increased their target price on Progressive from $285.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. BMO Capital Markets upped their price target on Progressive from $282.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Bank of America upgraded Progressive from a “neutral” rating to a “buy” rating and set a $312.00 price target on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. upped their price target on Progressive from $267.00 to $287.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Finally, Wall Street Zen cut Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $288.59.

Progressive Company 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.