Cardinal Strategic Wealth Guidance Purchases Shares of 950 The Progressive Co. (NYSE:PGR)

Cardinal Strategic Wealth Guidance acquired a new position in The Progressive Co. (NYSE:PGR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 950 shares of the insurance provider’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in shares of Progressive by 4,545.0% in the first 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 increased its holdings in Progressive by 548.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock worth $167,866,000 after acquiring an additional 686,433 shares in the last quarter. Capital International Investors raised its stake in Progressive by 15.7% during the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after acquiring an additional 670,006 shares during the period. International Assets Investment Management LLC lifted its holdings in 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 valued at $151,325,000 after purchasing an additional 594,330 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Progressive in the first quarter worth approximately $116,852,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PGR shares. Barclays raised their price objective on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group raised their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Morgan Stanley lifted their target price on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

Progressive Stock Performance

NYSE PGR opened at $242.72 on Friday. The business’s 50 day moving average price is $250.88 and its 200-day moving average price is $226.79. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46. The company has a market cap of $142.15 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.67 and a beta of 0.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31.

Progressive Announces Dividend

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

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’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 sale, the director now directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

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.