Moss Adams Wealth Advisors LLC Has $402,000 Stake in The Progressive Co. (NYSE:PGR)

Moss Adams Wealth Advisors LLC increased its stake in shares of The Progressive Co. (NYSE:PGR) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,677 shares of the insurance provider’s stock after purchasing an additional 178 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Progressive were worth $402,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after purchasing an additional 1,682,213 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Progressive by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after buying an additional 842,109 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Progressive by 75.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after buying an additional 641,943 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after buying an additional 594,330 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Progressive by 206.8% during the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after acquiring an additional 590,235 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Down 0.7 %

Shares of PGR opened at $243.79 on Friday. The Progressive Co. has a 52 week low of $166.92 and a 52 week high of $270.62. The firm has a market capitalization of $142.82 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.61 and a beta of 0.41. The company has a 50-day simple moving average of $250.18 and a 200-day simple moving average of $242.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio is currently 2.91%.

Wall Street Analysts Forecast Growth

PGR has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays reduced their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Progressive in a report on Friday, December 13th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.24.

Insider Transactions at Progressive

In related news, insider Andrew J. Quigg sold 681 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,919 shares of company stock valued at $8,222,168. 0.34% of the stock is owned by corporate insiders.

Progressive 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.