The Progressive Co. (NYSE:PGR) Shares Acquired by Bokf Na

Bokf Na boosted its holdings in The Progressive Co. (NYSE:PGR) by 46.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,746 shares of the insurance provider’s stock after acquiring an additional 8,177 shares during the quarter. Bokf Na’s holdings in Progressive were worth $5,348,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PGR. WR Wealth Planners LLC raised its stake in shares of Progressive by 119.6% during 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 in the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Progressive during the 1st quarter worth about $32,000. Sachetta LLC acquired a new stake in shares of Progressive in the 4th quarter worth approximately $25,000. Northwest Bank & Trust Co bought a new position in shares of Progressive in the fourth quarter valued at approximately $25,000. Finally, Hilltop National Bank increased 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 valued at $34,000 after acquiring an additional 92 shares during the period. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Down 0.0 %

Shares of Progressive stock opened at $249.48 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a 1 year low of $134.34 and a 1 year high of $254.83. The stock has a 50-day moving average price of $228.63 and a 200 day moving average price of $214.31. The company has a market cap of $146.11 billion, a P/E ratio of 25.54, a P/E/G ratio of 0.82 and a beta of 0.35.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, topping 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 net margin of 10.17% and a return on equity of 33.01%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. As a group, analysts expect that The Progressive Co. will post 12.29 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 dividend yield of 0.16%. The ex-dividend date is Thursday, October 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Roth Mkm increased their price target on Progressive from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a research note on Monday, August 12th. Piper Sandler upped their price target on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Barclays began coverage on shares of Progressive in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 price objective on the stock. Finally, Citigroup dropped their target price on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average price target of $252.29.

Insider Buying and Selling

In other Progressive news, CAO Mariann Wojtkun Marshall sold 650 shares of the business’s stock in a transaction dated 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 owns 3,981 shares in the company, valued at $828,485.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Andrew J. Quigg sold 3,975 shares of Progressive stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total value of $850,689.75. Following the completion of the sale, the insider now owns 32,780 shares of the company’s stock, valued at approximately $7,015,247.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 650 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,981 shares in the company, valued at $828,485.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,354 shares of company stock worth $33,502,680. Corporate insiders own 0.34% of the company’s stock.

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.