nVerses Capital LLC Invests $152,000 in The Progressive Co. (NYSE:PGR)

nVerses Capital LLC bought a new position in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 600 shares of the insurance provider’s stock, valued at approximately $152,000.

Other large investors also recently bought and sold shares of the company. Davis Capital Management purchased a new stake in shares of Progressive during the third quarter worth approximately $25,000. 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 purchasing an additional 67 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new position in shares of Progressive during the first quarter worth $32,000. Hilltop National Bank increased its holdings 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 buying an additional 92 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in Progressive in the first quarter valued at $35,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $251.12 on Friday. The firm has a market capitalization of $147.07 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 0.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The company has a 50 day moving average price of $248.81 and a 200 day moving average price of $224.14. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s payout ratio is currently 3.42%.

Insider Activity

In other news, CFO John P. Sauerland sold 22,708 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $4,859,739.08. Following the completion of the sale, the chief financial officer now owns 302,958 shares of the company’s stock, valued at approximately $64,836,041.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO John P. Sauerland sold 22,708 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $4,859,739.08. Following the transaction, the chief financial officer now owns 302,958 shares of the company’s stock, valued at approximately $64,836,041.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,383 shares of company stock worth $33,446,453 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PGR shares. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. Evercore ISI upped their price objective on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley lifted their target price on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.81.

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.