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

Raleigh Capital Management Inc. boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 20.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237 shares of the insurance provider’s stock after buying an additional 41 shares during the period. Raleigh Capital Management Inc.’s holdings in Progressive were worth $60,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PGR. Castleview Partners LLC boosted its position in shares of Progressive by 2.7% during the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 45 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Progressive by 21.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 46 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Progressive by 11.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock valued at $95,000 after buying an additional 48 shares during the period. Farmers & Merchants Investments Inc. grew its stake in shares of Progressive by 10.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock valued at $106,000 after buying an additional 48 shares during the period. Finally, Graypoint LLC increased its holdings in shares of Progressive by 1.2% during the 2nd quarter. Graypoint LLC now owns 4,202 shares of the insurance provider’s stock worth $873,000 after buying an additional 49 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. 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 is available at this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,843 shares of company stock valued at $18,674,912. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of Progressive stock opened at $247.25 on Thursday. The business has a 50-day simple moving average of $250.14 and a 200-day simple moving average of $224.95. The company has a market cap of $144.81 billion, a PE ratio of 17.97, a P/E/G ratio of 0.69 and a beta of 0.35. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46. 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PGR. Wells Fargo & Company increased their price objective on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. 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. Citigroup decreased their target price on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group boosted their price target on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. 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 stock. According to MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus price target of $263.19.

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.