Krilogy Financial LLC Invests $961,000 in The Progressive Corporation $PGR

Krilogy Financial LLC acquired a new stake in The Progressive Corporation (NYSE:PGR) during the 3rd quarter, HoldingsChannel reports. The firm acquired 3,892 shares of the insurance provider’s stock, valued at approximately $961,000.

Several other institutional investors and hedge funds have also bought and sold shares of PGR. CVA Family Office LLC raised its stake in Progressive by 4.2% in the 2nd quarter. CVA Family Office LLC now owns 1,053 shares of the insurance provider’s stock valued at $281,000 after acquiring an additional 42 shares during the period. Bell Investment Advisors Inc raised its position in shares of Progressive by 20.8% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 44 shares during the period. Maia Wealth LLC lifted its stake in shares of Progressive by 5.4% during the 2nd quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock valued at $229,000 after buying an additional 44 shares in the last quarter. Trail Ridge Investment Advisors LLC grew its stake in Progressive by 1.6% in the 2nd quarter. Trail Ridge Investment Advisors LLC now owns 2,906 shares of the insurance provider’s stock valued at $775,000 after buying an additional 45 shares in the last quarter. Finally, Selective Wealth Management Inc. raised its holdings in Progressive by 2.1% during the 3rd quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider’s stock valued at $538,000 after acquiring an additional 45 shares during the period. 85.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO John P. Sauerland sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the transaction, the chief financial officer directly owned 223,024 shares of the company’s stock, valued at approximately $50,956,523.52. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Jonathan S. Bauer sold 3,105 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $634,506.75. Following the completion of the transaction, the executive owned 26,249 shares of the company’s stock, valued at $5,363,983.15. This trade represents a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,443 shares of company stock valued at $2,723,061 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore reduced their price target on Progressive from $250.00 to $237.00 and set an “in-line” rating for the company in a research report on Wednesday, January 7th. UBS Group set a $226.00 price objective on shares of Progressive in a research report on Monday, February 2nd. JPMorgan Chase & Co. cut their price target on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. HSBC cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Jefferies Financial Group set a $216.00 price objective on Progressive in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $250.35.

Progressive Trading Down 1.3%

PGR stock opened at $205.60 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.38. The company has a market capitalization of $120.56 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 7.30 and a beta of 0.32. The company’s 50 day moving average price is $215.35 and its two-hundred day moving average price is $228.25. The Progressive Corporation has a one year low of $197.92 and a one year high of $292.99.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s dividend payout ratio is currently 2.08%.

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.