1,279 Shares in The Progressive Co. (NYSE:PGR) Purchased by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC bought a new position in shares of The Progressive Co. (NYSE:PGR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,279 shares of the insurance provider’s stock, valued at approximately $266,000.

Several other hedge funds have also recently bought and sold shares of the company. Meeder Advisory Services Inc. raised its position in Progressive by 43.0% in the 2nd quarter. Meeder Advisory Services Inc. now owns 10,004 shares of the insurance provider’s stock valued at $2,078,000 after purchasing an additional 3,010 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Progressive by 60.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,618 shares of the insurance provider’s stock valued at $2,205,000 after purchasing an additional 3,980 shares in the last quarter. Main Street Financial Solutions LLC raised its position in Progressive by 27.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,265 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 274 shares in the last quarter. Wambolt & Associates LLC raised its position in Progressive by 11.0% in the 2nd quarter. Wambolt & Associates LLC now owns 19,119 shares of the insurance provider’s stock valued at $4,005,000 after purchasing an additional 1,901 shares in the last quarter. Finally, BOKF NA raised its position in Progressive by 46.5% in the 2nd quarter. BOKF NA now owns 25,746 shares of the insurance provider’s stock valued at $5,348,000 after purchasing an additional 8,177 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America increased their price target on Progressive from $294.00 to $312.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Citigroup dropped their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley dropped their price objective on Progressive from $256.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Keefe, Bruyette & Woods increased their price objective on Progressive from $255.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Finally, BMO Capital Markets dropped their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 43,371 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $9,281,827.71. Following the completion of the sale, the chief executive officer now directly owns 517,105 shares of the company’s stock, valued at approximately $110,665,641.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Susan Patricia Griffith sold 43,371 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the completion of the transaction, the chief executive officer now directly owns 517,105 shares of the company’s stock, valued at $110,665,641.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 650 shares of Progressive stock in a transaction on Monday, June 17th. The stock was sold at an average price of $208.11, for a total value of $135,271.50. Following the transaction, 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. Insiders sold 147,354 shares of company stock valued at $33,502,680 in the last three months. 0.34% of the stock is currently owned by company insiders.

Progressive Trading Down 0.0 %

Shares of PGR stock opened at $249.48 on Friday. The business’s 50 day moving average is $228.63 and its two-hundred day moving average is $214.31. The Progressive Co. has a twelve month low of $134.34 and a twelve month high of $254.83. The company has a market capitalization of $146.11 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, beating the consensus estimate of $2.04 by $0.61. The business 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 company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Equities analysts forecast that The Progressive Co. will post 12.29 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd will be issued a $0.10 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio is currently 4.09%.

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.