Aaron Wealth Advisors LLC Sells 82 Shares of The Progressive Co. (NYSE:PGR)

Aaron Wealth Advisors LLC decreased its holdings in The Progressive Co. (NYSE:PGR) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,746 shares of the insurance provider’s stock after selling 82 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Progressive were worth $1,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raleigh Capital Management Inc. raised its position in shares of Progressive by 20.9% during the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock worth $60,000 after acquiring an additional 41 shares during the last quarter. LRI Investments LLC lifted its position in shares of Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares during the period. Castleview Partners LLC boosted its stake in shares of Progressive by 2.7% in the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares during the last quarter. Washington Trust Bank increased its position in shares of Progressive by 4.6% during the third quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after buying an additional 45 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in Progressive by 21.3% during the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock worth $54,000 after buying an additional 46 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at approximately $114,691,485.60. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,919 shares of company stock valued at $8,222,168. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PGR shares. Evercore ISI increased their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets decreased their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. TD Cowen lifted their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a report on Tuesday, December 10th. Finally, Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.24.

Progressive Stock Performance

Shares of PGR opened at $243.79 on Friday. 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 Progressive Co. has a 52 week low of $166.92 and a 52 week high of $270.62. The stock has a 50 day moving average price of $250.18 and a two-hundred day moving average price 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 business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

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.