Krilogy Financial LLC Purchases 2,314 Shares of The Progressive Corporation $PGR

Krilogy Financial LLC grew its position in shares of The Progressive Corporation (NYSE:PGR) by 39.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,144 shares of the insurance provider’s stock after buying an additional 2,314 shares during the period. Krilogy Financial LLC’s holdings in Progressive were worth $1,657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bard Associates Inc. bought a new position in Progressive during the fourth quarter worth about $27,000. Dagco Inc. bought a new stake in shares of Progressive in the fourth quarter valued at approximately $28,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Progressive during the 4th quarter valued at approximately $29,000. Ameriflex Group Inc. lifted its stake in shares of Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Finally, Entrust Financial LLC bought a new position in Progressive in the 4th quarter worth approximately $33,000. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $220.66 on Thursday. The company has a market capitalization of $128.94 billion, a P/E ratio of 11.22, a PEG ratio of 6.61 and a beta of 0.28. The Progressive Corporation has a fifty-two week low of $189.20 and a fifty-two week high of $267.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50 day moving average price of $201.02 and a two-hundred day moving average price of $206.81.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same quarter last year, the business earned $4.37 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Analysts expect that The Progressive Corporation will post 16.91 earnings per share for the current year.

Progressive Dividend Announcement

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

Insider Transactions at Progressive

In other news, insider Steven Broz sold 1,157 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the sale, the insider directly owned 27,511 shares in the company, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the sale, the insider directly owned 41,290 shares in the company, valued at $8,258,000. The trade was a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,230 shares of company stock worth $1,651,507 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PGR. Wells Fargo & Company reduced their price objective on shares of Progressive from $222.00 to $219.00 and set an “equal weight” rating for the company in a research note on Thursday, June 18th. Bank of America cut their target price on Progressive from $331.00 to $313.00 and set a “buy” rating for the company in a research note on Thursday, June 18th. UBS Group boosted their price target on shares of Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, March 23rd. Argus upgraded shares of Progressive to a “hold” rating in a research report on Thursday, March 5th. Finally, Barclays set a $247.00 target price on Progressive in a research note on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Progressive has a consensus rating of “Hold” and a consensus price target of $237.58.

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.