954 Shares in The Progressive Co. (NYSE:PGR) Bought by LVW Advisors LLC

LVW Advisors LLC acquired a new position in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 954 shares of the insurance provider’s stock, valued at approximately $242,000.

A number of other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Progressive by 4,545.0% during the 1st quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock worth $145,858,000 after acquiring an additional 690,060 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Progressive by 548.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock valued at $167,866,000 after purchasing an additional 686,433 shares during the last quarter. Capital International Investors raised its stake in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after acquiring an additional 670,006 shares in the last quarter. Swedbank AB acquired a new position in Progressive during the 1st quarter worth approximately $116,852,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Progressive by 457.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 651,707 shares of the insurance provider’s stock valued at $135,366,000 after buying an additional 534,754 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Trading Up 0.9 %

NYSE:PGR opened at $254.09 on Friday. The Progressive Co. has a 12 month low of $142.87 and a 12 month high of $260.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $148.82 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 0.69 and a beta of 0.35. The firm has a fifty day simple moving average of $245.20 and a two-hundred day simple moving average of $222.59.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, beating the consensus estimate of $2.04 by $0.61. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.54 billion. During the same period last year, the business posted $0.57 EPS. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. Analysts expect that The Progressive Co. will post 13.07 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio is currently 4.09%.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 43,371 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the transaction, the chief executive officer now owns 517,105 shares in the company, valued at approximately $110,665,641.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Philip Bleser sold 2,129 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $219.08, for a total transaction of $466,421.32. Following the completion of the sale, the director now owns 974 shares in the company, valued at approximately $213,383.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 43,371 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the transaction, the chief executive officer now directly owns 517,105 shares in the company, valued at $110,665,641.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,512 shares of company stock valued at $33,912,874. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler boosted their target price on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. The Goldman Sachs Group lifted their price target on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Citigroup decreased their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Finally, Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.53.

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.