Fidelis Capital Partners LLC Has $595,000 Position in The Progressive Co. (NYSE:PGR)

Fidelis Capital Partners LLC grew its stake in shares of The Progressive Co. (NYSE:PGR) by 14.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,736 shares of the insurance provider’s stock after acquiring an additional 476 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Progressive were worth $595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Compass Ion Advisors LLC boosted its holdings in shares of Progressive by 0.8% in the 4th quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock valued at $1,186,000 after purchasing an additional 59 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Progressive by 10.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 670 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 62 shares during the last quarter. Quent Capital LLC lifted its stake in Progressive by 19.3% in the 4th quarter. Quent Capital LLC now owns 427 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 69 shares during the last quarter. BSW Wealth Partners boosted its position in Progressive by 4.2% in the fourth quarter. BSW Wealth Partners now owns 1,727 shares of the insurance provider’s stock valued at $275,000 after buying an additional 69 shares in the last quarter. Finally, Invesco LLC increased its holdings in shares of Progressive by 2.0% during the fourth quarter. Invesco LLC now owns 3,537 shares of the insurance provider’s stock worth $563,000 after buying an additional 70 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Up 1.5 %

PGR stock traded up $3.24 during trading on Friday, reaching $212.99. The stock had a trading volume of 792,548 shares, compared to its average volume of 2,572,346. The Progressive Co. has a one year low of $111.41 and a one year high of $213.15. The company’s 50 day moving average is $199.28 and its two-hundred day moving average is $174.57. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $124.75 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 0.83 and a beta of 0.35.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. Progressive’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. Equities research analysts forecast that The Progressive Co. will post 11.16 EPS for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.19%. Progressive’s payout ratio is currently 4.09%.

Analyst Upgrades and Downgrades

Several research firms have commented on PGR. Morgan Stanley increased their target price on Progressive from $228.00 to $247.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Roth Mkm lifted their price objective on Progressive from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. TD Cowen started coverage on Progressive in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $174.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $211.88.

Insider Buying and Selling

In other news, insider Patrick K. Callahan sold 29,675 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the completion of the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Karen Bailo sold 8,464 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the transaction, the insider now owns 32,342 shares of the company’s stock, valued at approximately $6,128,485.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick K. Callahan sold 29,675 shares of Progressive stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the sale, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

About Progressive

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.