Diversified LLC Has $242,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Diversified LLC grew its position in The Progressive Co. (NYSE:PGR) by 15.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,163 shares of the insurance provider’s stock after buying an additional 152 shares during the period. Diversified LLC’s holdings in Progressive were worth $242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachetta LLC acquired a new stake in Progressive in the fourth quarter worth about $25,000. Northwest Bank & Trust Co bought a new position in shares of Progressive in the 4th quarter valued at about $25,000. Indiana Trust & Investment Management CO acquired a new stake in shares of Progressive during the 1st quarter worth approximately $32,000. Hilltop National Bank raised its stake in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after buying an additional 92 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in Progressive in the first quarter valued at approximately $35,000. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

NYSE:PGR traded up $1.03 during mid-day trading on Friday, hitting $241.25. The stock had a trading volume of 1,544,660 shares, compared to its average volume of 2,539,333. The Progressive Co. has a twelve month low of $130.27 and a twelve month high of $241.43. 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 stock has a market cap of $141.29 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 0.79 and a beta of 0.35. The company’s 50 day simple moving average is $217.48 and its 200 day simple moving average is $208.17.

Progressive (NYSE:PGR) last released its quarterly earnings data on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.61. The company had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.54 billion. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. On average, equities research analysts forecast that The Progressive Co. will post 12.16 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s dividend payout ratio is currently 4.09%.

Analyst Ratings Changes

PGR has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised shares of Progressive from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $210.00 to $245.00 in a report on Wednesday, July 17th. The Goldman Sachs Group upgraded Progressive from a “neutral” rating to a “buy” rating and raised their target price for the stock from $230.00 to $262.00 in a report on Thursday, August 15th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Wells Fargo & Company lifted their price target on shares of Progressive from $262.00 to $281.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group upped their price objective on shares of Progressive from $256.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and an average price target of $234.41.

Insider Activity

In related news, CAO Mariann Wojtkun Marshall sold 650 shares of Progressive stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $208.11, for a total transaction of $135,271.50. Following the completion of the sale, the chief accounting officer now owns 3,981 shares of the company’s stock, valued at approximately $828,485.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Philip Bleser sold 2,129 shares of Progressive stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $219.08, for a total transaction of $466,421.32. Following the completion of the sale, the director now owns 974 shares of the company’s stock, valued at $213,383.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mariann Wojtkun Marshall sold 650 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $208.11, for a total transaction of $135,271.50. Following the completion of the sale, the chief accounting officer now directly owns 3,981 shares of the company’s stock, valued at approximately $828,485.91. The disclosure for this sale can be found here. Insiders have sold 116,441 shares of company stock valued at $25,111,350 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Progressive 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.