The Progressive Corporation $PGR Shares Acquired by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. raised its position in shares of The Progressive Corporation (NYSE:PGR) by 17.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,792 shares of the insurance provider’s stock after purchasing an additional 2,021 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Progressive were worth $3,681,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Progressive during the first quarter worth $1,473,180,000. GQG Partners LLC boosted its holdings in shares of Progressive by 61.4% in the 1st quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock valued at $2,362,039,000 after buying an additional 3,174,632 shares during the period. C WorldWide Group Holding A S raised its stake in Progressive by 12,110.3% during the first quarter. C WorldWide Group Holding A S now owns 1,248,628 shares of the insurance provider’s stock worth $353,374,000 after acquiring an additional 1,238,402 shares during the period. Alliancebernstein L.P. lifted its holdings in Progressive by 15.2% in the first quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider’s stock worth $2,338,556,000 after acquiring an additional 1,091,828 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new position in Progressive in the first quarter worth about $194,557,000. Institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the completion of the transaction, the chief executive officer directly owned 476,286 shares of the company’s stock, valued at approximately $117,194,933.16. This trade represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction on Friday, September 19th. The shares were sold at an average price of $242.22, for a total value of $1,555,052.40. Following the transaction, the insider owned 15,192 shares in the company, valued at approximately $3,679,806.24. This trade represents a 29.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,045 shares of company stock valued at $31,997,390 over the last three months. 0.34% of the stock is owned by company insiders.

Progressive Price Performance

Shares of NYSE PGR opened at $246.73 on Thursday. The Progressive Corporation has a fifty-two week low of $228.54 and a fifty-two week high of $292.99. The firm’s 50-day simple moving average is $245.31 and its 200 day simple moving average is $261.43. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The stock has a market cap of $144.64 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.38 and a beta of 0.32.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.45. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The firm had revenue of $20.08 billion during the quarter, compared to analyst estimates of $20.39 billion. During the same quarter in the prior year, the firm posted $2.48 EPS. Progressive’s revenue was up 12.1% compared to the same quarter last year. Equities analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s payout ratio is presently 2.25%.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price target on Progressive from $268.00 to $270.00 and gave the stock a “market perform” rating in a research report on Thursday, September 18th. Jefferies Financial Group dropped their target price on Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. BMO Capital Markets set a $252.00 target price on Progressive in a research note on Thursday, September 18th. Morgan Stanley lowered their price target on shares of Progressive from $267.00 to $265.00 and set an “equal weight” rating for the company in a research report on Monday, September 22nd. Finally, Barclays cut their price objective on shares of Progressive from $287.00 to $281.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $279.63.

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.