16,739 Shares in The Progressive Co. (NYSE:PGR) Bought by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in The Progressive Co. (NYSE:PGR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,739 shares of the insurance provider’s stock, valued at approximately $3,477,000.

A number of other large investors have also modified their holdings of the company. WR Wealth Planners LLC lifted its position in shares of Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after buying an additional 67 shares during the period. Indiana Trust & Investment Management CO acquired a new position in Progressive in the first quarter valued at approximately $32,000. Sachetta LLC bought a new position in shares of Progressive in the 4th quarter worth $25,000. Northwest Bank & Trust Co acquired a new position in shares of Progressive during the 4th quarter worth about $25,000. Finally, Hilltop National Bank increased its stake in Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on PGR shares. Bank of America raised their target price on shares of Progressive from $294.00 to $312.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods upped their price target on shares of Progressive from $255.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a report on Monday, August 12th. Roth Mkm upped their price objective on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday. Finally, Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $257.18.

Progressive Stock Up 0.3 %

Shares of NYSE PGR opened at $257.69 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The Progressive Co. has a 1 year low of $137.59 and a 1 year high of $260.46. The firm has a market cap of $150.93 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 0.82 and a beta of 0.35. The company has a 50 day simple moving average of $232.38 and a 200 day simple moving average of $216.31.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.04 by $0.61. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.54 billion. Progressive had a net margin of 10.17% and a return on equity of 33.01%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, research analysts forecast that The Progressive Co. will post 12.29 EPS for the current year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio is currently 4.09%.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $210.40, for a total value of $2,104,000.00. Following the transaction, the chief financial officer now owns 302,958 shares of the company’s stock, valued at $63,742,363.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,704 shares of company stock worth $33,367,408. 0.34% of the stock is owned by company insiders.

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.