Private Advisor Group LLC Has $3.03 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Private Advisor Group LLC boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 10.9% during the third quarter, Holdings Channel reports. The fund owned 11,958 shares of the insurance provider’s stock after acquiring an additional 1,176 shares during the period. Private Advisor Group LLC’s holdings in Progressive were worth $3,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGR. Vanguard Group Inc. raised its holdings in Progressive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after purchasing an additional 285,070 shares during the last quarter. Capital International Investors raised its stake in shares of Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after buying an additional 670,006 shares during the last quarter. Legal & General Group Plc lifted its holdings in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after acquiring an additional 92,212 shares in the last quarter. American Century Companies Inc. grew its stake in Progressive by 3.0% in the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after acquiring an additional 69,709 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Progressive by 16.8% in the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock worth $351,289,000 after acquiring an additional 244,541 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the topic of several recent analyst reports. Roth Mkm lifted their price objective on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price target on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Bank of America raised their price objective on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Barclays lifted their price target on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $263.19.

Progressive Stock Up 0.2 %

PGR stock opened at $244.26 on Tuesday. The company has a market cap of $143.06 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 0.67 and a beta of 0.35. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The business has a 50 day moving average price of $250.63 and a two-hundred day moving average price of $225.91. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now owns 45,787 shares in the company, valued at approximately $10,874,412.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction on 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 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. Over the last three months, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is currently owned by corporate insiders.

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.