The Progressive Co. (NYSE:PGR) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management raised its position in The Progressive Co. (NYSE:PGR) by 16.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,055 shares of the insurance provider’s stock after acquiring an additional 150 shares during the quarter. Brookstone Capital Management’s holdings in Progressive were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PGR. Aviance Capital Partners LLC purchased a new stake in shares of Progressive during the first quarter worth $3,628,000. Concurrent Investment Advisors LLC raised its position in Progressive by 66.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock valued at $1,409,000 after purchasing an additional 2,719 shares in the last quarter. Diversified Trust Co raised its position in Progressive by 84.3% in the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after purchasing an additional 11,770 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Progressive by 90.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 21,056 shares of the insurance provider’s stock valued at $4,354,000 after buying an additional 10,000 shares during the period. Finally, Councilmark Asset Management LLC acquired a new position in shares of Progressive during the first quarter worth about $1,890,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Trading Down 0.9 %

NYSE:PGR opened at $251.88 on Tuesday. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $260.46. The stock has a market cap of $147.53 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.69 and a beta of 0.35. The business has a fifty day moving average of $246.02 and a 200-day moving average of $223.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.61. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The firm had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.54 billion. During the same period in the previous year, the company earned $0.57 earnings per share. Progressive’s revenue was up 21.6% compared to the same quarter last year. Equities analysts predict that The Progressive Co. will post 13.07 earnings per share for the current year.

Progressive Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PGR. Roth Mkm raised their price objective on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Barclays started coverage on Progressive in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 price target on the stock. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upped their price target on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $260.53.

Insider Buying and Selling

In other news, insider Andrew J. Quigg sold 3,975 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $850,689.75. Following the transaction, the insider now owns 32,780 shares in the company, valued at $7,015,247.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Andrew J. Quigg sold 3,975 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $850,689.75. Following the completion of the sale, the insider now owns 32,780 shares in the company, valued at approximately $7,015,247.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Broz sold 2,982 shares of Progressive stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the transaction, the insider now owns 29,334 shares in the company, valued at $7,626,840. This trade represents a 0.00 % decrease in their position. 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. Company insiders own 0.34% of the company’s stock.

Progressive Company 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.