1,027 Shares in The Progressive Co. (NYSE:PGR) Acquired by Biltmore Family Office LLC

Biltmore Family Office LLC acquired a new position in shares of The Progressive Co. (NYSE:PGR) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,027 shares of the insurance provider’s stock, valued at approximately $213,000.

Several other large investors have also recently added to or reduced their stakes in PGR. Sachetta LLC acquired a new stake in shares of Progressive in the 4th quarter worth about $25,000. Northwest Bank & Trust Co bought a new position in Progressive in the 4th quarter worth about $25,000. WR Wealth Planners LLC increased its stake in shares of Progressive by 119.6% in the second 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. Indiana Trust & Investment Management CO bought a new stake in shares of Progressive during the first quarter valued at approximately $32,000. Finally, Hilltop National Bank boosted its position 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 period. 85.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Steven Broz sold 3,050 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $209.81, for a total value of $639,920.50. Following the completion of the sale, the insider now owns 32,453 shares in the company, valued at $6,808,963.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Steven Broz sold 3,050 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $209.81, for a total value of $639,920.50. Following the transaction, the insider now owns 32,453 shares in the company, valued at approximately $6,808,963.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 650 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was 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 $828,485.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,354 shares of company stock worth $33,502,680. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.9 %

Shares of Progressive stock opened at $249.12 on Wednesday. The Progressive Co. has a 12-month low of $134.34 and a 12-month high of $254.83. The firm has a market capitalization of $145.90 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 0.82 and a beta of 0.35. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $227.06 and its 200-day moving average is $213.82.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.61. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.54 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. Equities analysts anticipate that The Progressive Co. will post 12.19 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, October 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, October 3rd. Progressive’s dividend payout ratio is 4.09%.

Analyst Ratings Changes

Several research firms recently commented on PGR. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler lifted their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Barclays started coverage on shares of Progressive in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 target price for the company. Citigroup dropped their price target on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company upped their price target on shares of Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.29.

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.