Wealthstream Advisors Inc. grew its holdings in The Progressive Corporation (NYSE:PGR – Free Report) by 23.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,062 shares of the insurance provider’s stock after buying an additional 204 shares during the period. Wealthstream Advisors Inc.’s holdings in Progressive were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in PGR. TruNorth Capital Management LLC lifted its holdings in shares of Progressive by 210.0% in the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 63 shares during the last quarter. HWG Holdings LP bought a new stake in shares of Progressive in the 1st quarter worth about $28,000. Garde Capital Inc. bought a new stake in shares of Progressive in the 1st quarter worth about $33,000. Ransom Advisory Ltd bought a new stake in shares of Progressive in the 1st quarter worth about $35,000. Finally, Activest Wealth Management lifted its holdings in shares of Progressive by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 127 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.
Progressive Trading Up 1.7%
Shares of PGR opened at $225.57 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The firm has a market capitalization of $132.23 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.26 and a beta of 0.32. The company has a 50-day moving average of $243.73 and a 200 day moving average of $257.90. The Progressive Corporation has a 1-year low of $217.20 and a 1-year high of $292.99.
Progressive Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.19%.
Insider Buying and Selling at Progressive
In other Progressive news, insider Lori A. Niederst sold 8,063 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $250.18, for a total transaction of $2,017,201.34. Following the transaction, the insider owned 39,040 shares of the company’s stock, valued at approximately $9,767,027.20. This trade represents a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John P. Sauerland sold 16,664 shares of the firm’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $249.24, for a total transaction of $4,153,335.36. Following the transaction, the chief financial officer directly owned 228,024 shares in the company, valued at $56,832,701.76. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,778 shares of company stock worth $31,683,756. 0.34% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on PGR shares. Wolfe Research started coverage on shares of Progressive in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Raymond James Financial lowered their target price on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley decreased their price objective on shares of Progressive from $267.00 to $265.00 and set an “equal weight” rating for the company in a report on Monday, September 22nd. Evercore ISI decreased their price objective on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. Finally, Bank of America lifted their price objective on shares of Progressive from $350.00 to $351.00 and gave the company a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, Progressive presently has an average rating of “Hold” and an average target price of $274.46.
View Our Latest Report on Progressive
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.
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