The Progressive Co. (NYSE:PGR) Shares Purchased by Mowery & Schoenfeld Wealth Management LLC

Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 200.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 412 shares of the insurance provider’s stock after buying an additional 275 shares during the quarter. Mowery & Schoenfeld Wealth Management LLC’s holdings in Progressive were worth $105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Assets Advisory LLC purchased a new stake in shares of Progressive in the 1st quarter valued at approximately $2,301,000. Wealthcare Advisory Partners LLC raised its stake in Progressive by 882.9% in the first quarter. Wealthcare Advisory Partners LLC now owns 13,967 shares of the insurance provider’s stock valued at $2,889,000 after buying an additional 12,546 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Progressive by 96.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,382 shares of the insurance provider’s stock worth $13,522,000 after buying an additional 32,115 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in Progressive by 64.3% during the 1st quarter. 180 Wealth Advisors LLC now owns 3,670 shares of the insurance provider’s stock worth $759,000 after buying an additional 1,436 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Progressive during the 1st quarter worth about $323,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of Progressive stock traded up $1.08 on Thursday, reaching $248.33. 274,895 shares of the stock were exchanged, compared to its average volume of 2,476,342. The firm has a market capitalization of $145.45 billion, a PE ratio of 25.43, a PEG ratio of 0.69 and a beta of 0.35. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The business has a fifty day moving average price of $250.14 and a two-hundred day moving average price of $224.95. 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 announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders 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 dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio (DPR) is 4.09%.

Analyst Ratings Changes

PGR has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group upped their target price on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Citigroup decreased their price objective on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Finally, Morgan Stanley lifted their target price on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Six equities research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Insider Activity

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Progressive news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $237.50, for a total value of $2,259,100.00. Following the completion of the transaction, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 in the last three months. 0.34% of the stock is currently owned by company insiders.

About Progressive

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.