James Hambro & Partners LLP Reduces Holdings in The Progressive Co. (NYSE:PGR)

James Hambro & Partners LLP lowered its position in The Progressive Co. (NYSE:PGR) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529,506 shares of the insurance provider’s stock after selling 4,990 shares during the quarter. Progressive makes up about 5.6% of James Hambro & Partners LLP’s portfolio, making the stock its 5th biggest position. James Hambro & Partners LLP’s holdings in Progressive were worth $134,344,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PGR. RFG Advisory LLC purchased a new stake in Progressive in the first quarter worth about $538,000. &PARTNERS purchased a new stake in shares of Progressive in the 1st quarter worth approximately $412,000. Global Assets Advisory LLC bought a new position in shares of Progressive during the first quarter valued at approximately $2,301,000. Riverview Trust Co purchased a new position in Progressive during the first quarter valued at approximately $121,000. Finally, Arkfeld Wealth Strategies L.L.C. bought a new position in Progressive in the first quarter worth approximately $206,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the completion of the sale, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,862 shares of company stock valued at $17,926,234. 0.34% of the stock is owned by company insiders.

Progressive Stock Performance

PGR traded up $0.04 on Monday, reaching $251.16. The stock had a trading volume of 699,031 shares, compared to its average volume of 2,488,111. The business’s 50-day moving average price is $248.81 and its two-hundred day moving average price is $224.24. The company has a market cap of $147.10 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 0.70 and a beta of 0.35. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. 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 Dividend Announcement

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

Analyst Ratings Changes

PGR has been the topic of several recent research reports. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. BMO Capital Markets cut their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI increased their price target on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler increased their target price on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $268.81.

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.