The Progressive Co. (NYSE:PGR) Stake Increased by DiNuzzo Private Wealth Inc.

DiNuzzo Private Wealth Inc. raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 114.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137 shares of the insurance provider’s stock after purchasing an additional 73 shares during the period. DiNuzzo Private Wealth Inc.’s holdings in Progressive were worth $35,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in Progressive during the third quarter valued at $25,000. WR Wealth Planners LLC increased its stake in Progressive by 119.6% during 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. Indiana Trust & Investment Management CO bought a new stake in Progressive during the first quarter valued at $32,000. Hilltop National Bank increased its stake in Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of Progressive during the first quarter valued at $35,000. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PGR shares. Keefe, Bruyette & Woods boosted their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Progressive from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Roth Mkm boosted their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Jefferies Financial Group boosted their price target on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays started coverage on shares of Progressive in a report on Wednesday, September 4th. They set an “equal weight” rating and a $367.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.19.

Insiders Place Their Bets

In other Progressive news, CEO Susan Patricia Griffith sold 43,371 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the sale, the chief executive officer now owns 517,105 shares in the company, valued at approximately $110,665,641.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Progressive news, insider Andrew J. Quigg sold 3,975 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $850,689.75. Following the sale, the insider now owns 32,780 shares in the company, valued at approximately $7,015,247.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,371 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $9,281,827.71. Following the sale, the chief executive officer now owns 517,105 shares in the company, valued at approximately $110,665,641.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,383 shares of company stock worth $33,446,453. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of Progressive stock opened at $251.34 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $248.22 and its two-hundred day moving average price is $223.76. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46. The stock has a market cap of $147.21 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.04 by $0.61. Progressive had a net margin of 10.17% and a return on equity of 33.01%. The firm had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.54 billion. During the same period in the previous year, the business earned $0.57 earnings per share. Progressive’s revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Progressive Co. will post 13.07 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

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.