GHP Investment Advisors Inc. Has $14.69 Million Stock Position in The Progressive Co. (NYSE:PGR)

GHP Investment Advisors Inc. lowered its position in shares of The Progressive Co. (NYSE:PGR) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 57,868 shares of the insurance provider’s stock after selling 823 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Progressive were worth $14,685,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Covenant Partners LLC raised its stake in Progressive by 7.8% during the 3rd quarter. Covenant Partners LLC now owns 3,165 shares of the insurance provider’s stock valued at $803,000 after purchasing an additional 230 shares during the period. First Bank & Trust grew its holdings in shares of Progressive by 0.5% during the third quarter. First Bank & Trust now owns 13,170 shares of the insurance provider’s stock valued at $3,342,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Progressive by 68.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 128,938 shares of the insurance provider’s stock valued at $32,719,000 after buying an additional 52,229 shares during the period. PFG Investments LLC acquired a new stake in Progressive during the 3rd quarter worth about $244,000. Finally, Arkadios Wealth Advisors grew its stake in Progressive by 113.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,247 shares of the insurance provider’s stock valued at $824,000 after acquiring an additional 1,728 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares in the company, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Broz sold 2,981 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. 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 quarter, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is owned by insiders.

Progressive Price Performance

Shares of Progressive stock traded down $3.09 during trading on Friday, hitting $243.78. 1,594,653 shares of the company’s stock traded hands, compared to its average volume of 2,476,907. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. 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 company has a market cap of $142.77 billion, a PE ratio of 17.72, a PEG ratio of 0.68 and a beta of 0.35. The firm’s fifty day moving average price is $250.50 and its 200 day moving average price is $225.33.

Progressive Announces Dividend

The business 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 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%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PGR. Jefferies Financial Group increased their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI raised their price target on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets reduced their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Six investment 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. According to MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and an average target price of $263.19.

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.