Invesco LLC Grows Stock Position in The Progressive Co. (NYSE:PGR)

Invesco LLC lifted its stake in The Progressive Co. (NYSE:PGR) by 2.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,275 shares of the insurance provider’s stock after buying an additional 90 shares during the period. Invesco LLC’s holdings in Progressive were worth $1,085,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Davis Capital Management purchased a new position in shares of Progressive in the third quarter worth about $25,000. WR Wealth Planners LLC increased its holdings in Progressive by 119.6% during the 2nd 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 period. DiNuzzo Private Wealth Inc. increased its holdings in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the period. Hilltop National Bank increased its holdings in Progressive by 126.0% during the 2nd 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 period. Finally, LRI Investments LLC purchased a new position in Progressive during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

PGR has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lifted their price objective on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $263.19.

Progressive Stock Down 0.0 %

Shares of PGR traded down $0.11 during mid-day trading on Friday, reaching $242.72. The company had a trading volume of 3,237,950 shares, compared to its average volume of 2,470,169. The company has a market capitalization of $142.15 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 0.67 and a beta of 0.35. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50-day moving average price of $250.88 and a 200 day moving average price of $226.66.

Progressive Dividend Announcement

The firm also recently disclosed 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%.

Insider Activity at Progressive

In related news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Progressive news, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction on 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 sale, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is owned by corporate 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.