The Progressive Co. (NYSE:PGR) Shares Acquired by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 299.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,924 shares of the insurance provider’s stock after buying an additional 3,692 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Progressive were worth $1,236,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PGR. SG Americas Securities LLC raised its stake in shares of Progressive by 4,545.0% during the 1st quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock worth $145,858,000 after buying an additional 690,060 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Progressive by 548.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after buying an additional 686,433 shares during the period. Capital International Investors increased its position in shares of Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after purchasing an additional 670,006 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Progressive by 29,701.6% during the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after purchasing an additional 594,330 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Progressive during the first quarter worth approximately $116,852,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Performance

NYSE PGR opened at $243.78 on Friday. The stock has a fifty day simple moving average of $250.34 and a 200-day simple moving average of $225.10. The Progressive Co. has a twelve month low of $149.14 and a twelve 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. The stock has a market cap of $142.77 billion, a PE ratio of 17.72, a P/E/G ratio of 0.68 and a beta of 0.35.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s payout ratio is 2.91%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PGR shares. JPMorgan Chase & Co. boosted their price target on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Citigroup dropped their price target on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Thursday. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their target price on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Six equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Insider Buying and Selling

In related news, insider Steven Broz sold 2,982 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the transaction, the insider now owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Progressive news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now owns 45,787 shares of the company’s stock, valued at $10,874,412.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Broz sold 2,982 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the sale, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,843 shares of company stock valued at $18,674,912. Corporate insiders own 0.34% of the company’s stock.

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.