Capital Planning Advisors LLC Purchases 507 Shares of The Progressive Co. (NYSE:PGR)

Capital Planning Advisors LLC increased its position in The Progressive Co. (NYSE:PGR) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 32,829 shares of the insurance provider’s stock after buying an additional 507 shares during the quarter. Progressive comprises approximately 1.2% of Capital Planning Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Capital Planning Advisors LLC’s holdings in Progressive were worth $7,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PGR. Davis Capital Management bought a new stake in Progressive in the third quarter valued at $25,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Progressive in the 2nd quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progressive during the 3rd quarter worth about $49,000. Finally, Friedenthal Financial bought a new position in shares of Progressive in the third quarter valued at approximately $49,000. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 9,066 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 $2,194,878.60. Following the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,938 shares of company stock valued at $7,473,490 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley reduced their price objective on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods dropped their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets cut their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $274.65.

Progressive Stock Down 0.8 %

Progressive stock opened at $239.13 on Thursday. The company has a 50 day moving average of $248.98 and a 200-day moving average of $243.14. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a twelve month low of $169.57 and a twelve month high of $270.62. The stock has a market capitalization of $140.08 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.