The Progressive Co. (NYSE:PGR) Shares Purchased by Allworth Financial LP

Allworth Financial LP boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 7.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,313 shares of the insurance provider’s stock after purchasing an additional 481 shares during the quarter. Allworth Financial LP’s holdings in Progressive were worth $1,856,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PGR. Davis Capital Management acquired a new stake in shares of Progressive in the 3rd quarter worth approximately $25,000. WR Wealth Planners LLC grew its holdings in Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares during the last quarter. DiNuzzo Private Wealth Inc. raised its stake in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the last quarter. Hilltop National Bank boosted its position in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after buying an additional 92 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Progressive in the 1st quarter valued at about $36,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PGR has been the topic of several recent research reports. Barclays upped their price target on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Roth Mkm boosted their price target on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Piper Sandler increased their price objective on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley boosted their target price on shares of Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $263.19.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the company’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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the 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 owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Progressive stock opened at $243.78 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The company has a market cap of $142.77 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. The stock’s 50-day moving average is $250.50 and its 200-day moving average is $225.61.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were paid 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 yield of 0.16%. Progressive’s dividend payout ratio is currently 2.91%.

About Progressive

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.