2,605 Shares in The Progressive Co. (NYSE:PGR) Bought by One Capital Management LLC

One Capital Management LLC bought a new position in The Progressive Co. (NYSE:PGR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,605 shares of the insurance provider’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC acquired a new position in Progressive in the 1st quarter worth $3,628,000. TCW Group Inc. acquired a new position in shares of Progressive during the 4th quarter worth about $1,988,000. Brevan Howard Capital Management LP acquired a new position in shares of Progressive during the 4th quarter worth about $3,090,000. Concurrent Investment Advisors LLC boosted its stake in shares of Progressive by 66.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock worth $1,409,000 after buying an additional 2,719 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Progressive by 90.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 21,056 shares of the insurance provider’s stock worth $4,354,000 after buying an additional 10,000 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In related news, insider Steven Broz sold 3,050 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $209.81, for a total transaction of $639,920.50. Following the sale, the insider now owns 32,453 shares in the company, valued at approximately $6,808,963.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Steven Broz sold 3,050 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $209.81, for a total transaction of $639,920.50. Following the sale, the insider now owns 32,453 shares in the company, valued at approximately $6,808,963.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $210.40, for a total transaction of $2,104,000.00. Following the sale, the chief financial officer now owns 302,958 shares in the company, valued at approximately $63,742,363.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,704 shares of company stock valued at $33,367,408. 0.34% of the stock is currently owned by company insiders.

Progressive Stock Up 0.2 %

Shares of PGR opened at $256.91 on Wednesday. The Progressive Co. has a 12 month low of $137.59 and a 12 month high of $260.46. The firm’s 50 day moving average is $231.42 and its 200-day moving average is $216.02. The stock has a market capitalization of $150.47 billion, a PE ratio of 26.30, a P/E/G ratio of 0.82 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

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

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio is presently 4.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PGR shares. Piper Sandler increased their price objective on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI increased their price objective on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research note on Monday, August 12th. Morgan Stanley upped their target price on shares of Progressive from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Finally, BMO Capital Markets dropped their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $256.12.

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.