Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $11.07 Million Holdings in The Progressive Co. (NYSE:PGR)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of The Progressive Co. (NYSE:PGR) by 2,717.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 44,859 shares of the insurance provider’s stock after acquiring an additional 43,267 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Progressive were worth $11,074,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Norden Group LLC acquired a new stake in Progressive in the first quarter worth $987,000. First Trust Direct Indexing L.P. lifted its holdings in Progressive by 4.3% during the first quarter. First Trust Direct Indexing L.P. now owns 20,292 shares of the insurance provider’s stock worth $4,197,000 after acquiring an additional 833 shares in the last quarter. New Century Financial Group LLC acquired a new position in Progressive in the first quarter valued at about $249,000. Maryland State Retirement & Pension System increased its holdings in shares of Progressive by 0.9% in the first quarter. Maryland State Retirement & Pension System now owns 45,887 shares of the insurance provider’s stock worth $9,530,000 after acquiring an additional 389 shares in the last quarter. Finally, Hartline Investment Corp acquired a new stake in shares of Progressive during the first quarter worth about $265,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Up 0.6 %

Shares of NYSE:PGR traded up $1.39 during trading on Wednesday, hitting $243.07. 87,520 shares of the company were exchanged, compared to its average volume of 2,455,251. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46. The stock has a market cap of $142.36 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 0.67 and a beta of 0.35. 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 firm has a fifty day moving average price of $250.69 and a two-hundred day moving average price of $226.17.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. 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 currently 2.91%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PGR shares. The Goldman Sachs Group boosted their price objective on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley upped their price target on shares of Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group raised their price objective on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler boosted their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, Evercore ISI increased their target price on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and an average target price of $263.19.

Insider Buying and Selling at Progressive

In other news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was 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 directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This trade 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 link. Also, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock worth $18,674,912 over the last quarter. 0.34% of the stock is currently owned by insiders.

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.