Parsec Financial Management Inc. bought a new position in The Progressive Co. (NYSE:PGR – Get Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,817 shares of the insurance provider's stock, valued at approximately $207,000.
根据Parsec Financial Management Inc.提交给美国证券交易委员会的最新Form 13F文件，该公司在第一季度购买了进步公司(NYSE：PGR-GET Rating)的新头寸。该公司购买了1,817股这家保险公司的股票，价值约20.7万美元。
Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in shares of Progressive by 37.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 7,647 shares of the insurance provider's stock worth $785,000 after acquiring an additional 2,097 shares during the period. Banque Pictet & Cie SA acquired a new position in Progressive in the 4th quarter valued at about $2,028,000. JB Capital LLC grew its stake in shares of Progressive by 3.2% in the 4th quarter. JB Capital LLC now owns 7,321 shares of the insurance provider's stock valued at $752,000 after buying an additional 228 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Progressive by 6.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 240,452 shares of the insurance provider's stock worth $24,683,000 after buying an additional 14,727 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Progressive by 77.0% during the 4th quarter. Arkadios Wealth Advisors now owns 4,971 shares of the insurance provider's stock valued at $510,000 after buying an additional 2,163 shares during the period. 83.68% of the stock is currently owned by institutional investors and hedge funds.
其他机构投资者和对冲基金也改变了他们在该公司的头寸。Assenagon Asset Management S.A.在第四季度增持了37.8%的进步股份。Assenagon Asset Management S.A.在此期间增持了2,097股，目前持有这家保险公司7647股股票，价值785,000美元。BANQUE Pictet&Cie SA在第四季度收购了Progative的一个新头寸，价值约为202.8万美元。JB Capital LLC在第四季度持有的进步股份增加了3.2%。JB Capital LLC目前持有这家保险公司7,321股股票，价值752,000美元，在此期间又购买了228股。西北互惠财富管理公司在第四季度增持了6.5%的进步股份。西北共同财富管理公司目前持有240,452股这家保险公司的股票，价值24,683,000美元，该公司在上个季度又购买了14,727股。最后，Arkadios Wealth Advisors在第四季度将其在进步公司的股票头寸提高了77.0%。Arkadios Wealth Advisors在此期间又购买了2,163股，现在拥有4,971股这家保险公司的股票，价值51万美元。83.68%的股票目前由机构投资者和对冲基金持有。
In related news, insider Daniel P. Mascaro sold 558 shares of the firm's stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $112.94, for a total transaction of $63,020.52. Following the transaction, the insider now owns 38,887 shares of the company's stock, valued at $4,391,897.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.
Progressive Stock Up 1.0 %
Progressive announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 18th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Progressive Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, October 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.33%. The ex-dividend date is Thursday, October 6th. Progressive's dividend payout ratio (DPR) is 28.57%.
Analyst Ratings Changes
Several research firms have issued reports on PGR. Wells Fargo & Company reissued a "sell" rating and set a $98.00 target price on shares of Progressive in a research note on Friday, July 15th. Citigroup assumed coverage on shares of Progressive in a research report on Monday, May 23rd. They issued a "sell" rating and a $93.00 target price on the stock. Barclays boosted their price target on shares of Progressive from $88.00 to $90.00 and gave the company an "underweight" rating in a research note on Thursday, May 19th. Evercore ISI set a $129.00 price objective on shares of Progressive in a research report on Tuesday, July 19th. Finally, Piper Sandler lowered Progressive from a "neutral" rating to an "underweight" rating and cut their target price for the company from $113.00 to $100.00 in a research report on Monday, April 18th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Progressive has an average rating of "Hold" and a consensus price target of $111.93.
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.
- Get a free copy of the StockNews.com research report on Progressive (PGR)
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