26,117 Shares in The Progressive Co. (NYSE:PGR) Bought by Eastern Bank

Eastern Bank purchased a new position in The Progressive Co. (NYSE:PGR) during the third quarter, HoldingsChannel.com reports. The fund purchased 26,117 shares of the insurance provider’s stock, valued at approximately $6,627,000.

A number of other large investors have also added to or reduced their stakes in PGR. RFG Advisory LLC bought a new stake in Progressive in the 1st quarter worth $538,000. Global Assets Advisory LLC bought a new stake in Progressive in the 1st quarter worth $2,301,000. Kingswood Wealth Advisors LLC grew its holdings in Progressive by 3.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,436 shares of the insurance provider’s stock worth $1,124,000 after acquiring an additional 159 shares during the last quarter. Corundum Group Inc. bought a new stake in Progressive in the 1st quarter worth $311,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Progressive by 882.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,967 shares of the insurance provider’s stock valued at $2,889,000 after purchasing an additional 12,546 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PGR shares. 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 note on Monday, August 12th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Barclays assumed coverage on shares of Progressive in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $367.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $268.81.

Insider Activity

In other news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the completion of the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the completion of the transaction, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,862 shares of company stock valued at $17,926,234 over the last three months. Insiders own 0.34% of the company’s stock.

Progressive Stock Down 1.0 %

PGR opened at $248.25 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $249.88 and a 200-day moving average price of $224.79. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The stock has a market capitalization of $145.39 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.69 and a beta of 0.35.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.10 per share. 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 payout ratio is 2.91%.

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.