Farmers & Merchants Investments Inc. Has $116,000 Stake in The Progressive Co. (NYSE:PGR)

Farmers & Merchants Investments Inc. lessened its holdings in The Progressive Co. (NYSE:PGR) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 459 shares of the insurance provider’s stock after selling 50 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Progressive were worth $116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PGR. SG Americas Securities LLC lifted its position in shares of Progressive by 4,545.0% during the first quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock worth $145,858,000 after purchasing an additional 690,060 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Progressive by 548.2% during the first quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after buying an additional 686,433 shares during the last quarter. Capital International Investors increased its stake in Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares in the last quarter. International Assets Investment Management LLC increased its stake in Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after purchasing an additional 594,330 shares in the last quarter. Finally, Swedbank AB bought a new stake in Progressive in the first quarter valued at approximately $116,852,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling

In related news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the transaction, the insider now directly owns 32,316 shares in the company, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Progressive news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 32,316 shares in the company, valued at $7,600,400.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the transaction, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. 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 ninety days, insiders sold 74,843 shares of company stock worth $18,674,912. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PGR. JPMorgan Chase & Co. increased their price objective on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised their target price 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 target on shares of Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Roth Mkm lifted their target price on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Progressive has an average rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Stock Up 0.6 %

Shares of NYSE:PGR opened at $243.02 on Thursday. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The firm has a fifty day moving average of $250.80 and a 200 day moving average of $226.29. The firm has a market capitalization of $142.33 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.67 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.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were given a $0.10 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 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.