WealthTrust Fairport LLC decreased its position in shares of Progressive Corp (NYSE:PGR) by 37.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,522 shares of the insurance provider’s stock after selling 10,373 shares during the period. WealthTrust Fairport LLC’s holdings in Progressive were worth $1,057,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC bought a new stake in shares of Progressive in the 4th quarter worth approximately $27,000. Karp Capital Management Corp bought a new stake in shares of Progressive in the 4th quarter worth approximately $32,000. Capital Investment Advisory Services LLC bought a new stake in shares of Progressive in the 4th quarter worth approximately $33,000. Capital Financial Planning LLC bought a new stake in shares of Progressive in the 4th quarter worth approximately $33,000. Finally, JOYN Advisors Inc. boosted its position in shares of Progressive by 46.3% in the 4th quarter. JOYN Advisors Inc. now owns 588 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 80.51% of the company’s stock.

A number of analysts have recently commented on the company. Citigroup boosted their price target on Progressive from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Credit Suisse Group reissued a “buy” rating and issued a $73.00 price target on shares of Progressive in a research report on Thursday, January 3rd. Wells Fargo & Co reissued a “hold” rating and issued a $70.00 price target on shares of Progressive in a research report on Wednesday, January 23rd. Zacks Investment Research cut Progressive from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. Finally, B. Riley raised Progressive from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $81.00 in a research report on Tuesday, December 11th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $72.50.

PGR stock traded down $0.92 during midday trading on Thursday, hitting $71.79. The company’s stock had a trading volume of 23,080 shares, compared to its average volume of 3,004,018. The stock has a market capitalization of $42.73 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.97 and a beta of 0.78. Progressive Corp has a 12 month low of $56.71 and a 12 month high of $73.78. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, January 23rd. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.57). The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.86 billion. Progressive had a net margin of 8.16% and a return on equity of 24.83%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. On average, research analysts predict that Progressive Corp will post 5.07 earnings per share for the current year.

The firm also recently disclosed an annual dividend, which will be paid on Monday, April 15th. Investors of record on Friday, April 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a yield of 0.14%. Progressive’s dividend payout ratio (DPR) is presently 56.79%.

In other news, insider John A. Barbagallo sold 45,000 shares of the stock in a transaction on Friday, January 25th. The stock was sold at an average price of $65.44, for a total transaction of $2,944,800.00. Following the transaction, the insider now directly owns 132,370 shares of the company’s stock, valued at approximately $8,662,292.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John A. Barbagallo sold 5,948 shares of the stock in a transaction on Thursday, January 3rd. The shares were sold at an average price of $58.96, for a total value of $350,694.08. Following the transaction, the insider now directly owns 177,370 shares in the company, valued at $10,457,735.20. The disclosure for this sale can be found here. Insiders sold a total of 120,048 shares of company stock worth $8,073,519 over the last ninety days. 0.70% of the stock is currently owned by insiders.

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About Progressive

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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