The Progressive Co. (NYSE:PGR) Holdings Raised by Buckley Wealth Management LLC

Buckley Wealth Management LLC increased its stake in The Progressive Co. (NYSE:PGR) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,575 shares of the insurance provider’s stock after purchasing an additional 60 shares during the quarter. Buckley Wealth Management LLC’s holdings in Progressive were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Capital Management acquired a new stake in shares of Progressive during the third quarter valued at approximately $25,000. WR Wealth Planners LLC increased its stake in Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after buying an additional 67 shares during the period. Indiana Trust & Investment Management CO purchased a new stake in shares of Progressive during the first quarter worth $32,000. Hilltop National Bank raised its stake in shares of Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new position in Progressive during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 43,371 shares of the 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 transaction, the chief executive officer now directly owns 517,105 shares of the company’s stock, valued at approximately $110,665,641.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Susan Patricia Griffith sold 43,371 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the completion of the sale, the chief executive officer now owns 517,105 shares in the company, valued at $110,665,641.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew J. Quigg sold 3,975 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $850,689.75. Following the completion of the transaction, the insider now owns 32,780 shares in the company, valued at approximately $7,015,247.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,383 shares of company stock valued at $33,446,453. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on PGR. 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 note on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Barclays assumed coverage on Progressive in a report on Wednesday, September 4th. They set an “equal weight” rating and a $367.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $268.81.

Progressive Price Performance

Shares of PGR stock traded down $0.22 during mid-day trading on Friday, reaching $251.12. The company’s stock had a trading volume of 2,089,962 shares, compared to its average volume of 2,497,081. 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 firm’s 50-day moving average is $248.81 and its two-hundred day moving average is $224.14. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The company has a market cap of $147.08 billion, a P/E ratio of 25.70, a PEG ratio of 0.70 and a beta of 0.35.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s dividend payout ratio is 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.