The Progressive Co. (NYSE:PGR) Shares Purchased by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC boosted its holdings in The Progressive Co. (NYSE:PGR) by 2.0% during the 3rd quarter, Holdings Channel reports. The fund owned 3,121 shares of the insurance provider’s stock after acquiring an additional 60 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Progressive were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PGR. United Advisor Group LLC acquired a new position in shares of Progressive during the 4th quarter valued at $1,084,000. Winslow Asset Management Inc. increased its position in shares of Progressive by 0.8% during the 4th quarter. Winslow Asset Management Inc. now owns 8,579 shares of the insurance provider’s stock valued at $1,366,000 after purchasing an additional 67 shares during the period. FIL Ltd increased its position in shares of Progressive by 0.4% during the 4th quarter. FIL Ltd now owns 4,885,731 shares of the insurance provider’s stock valued at $778,199,000 after purchasing an additional 19,724 shares during the period. Nepc LLC acquired a new position in shares of Progressive during the 4th quarter valued at $15,919,000. Finally, V Square Quantitative Management LLC increased its position in shares of Progressive by 38.2% during the 4th quarter. V Square Quantitative Management LLC now owns 9,237 shares of the insurance provider’s stock valued at $1,471,000 after purchasing an additional 2,555 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Progressive

In related news, CEO Susan Patricia Griffith sold 43,371 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $110,665,641.05. This trade represents 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 accessible through the SEC website. In related news, CEO Susan Patricia Griffith sold 43,371 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $110,665,641.05. This trade represents 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 accessible through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The shares were 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 approximately $3,462,038.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,512 shares of company stock valued at $33,912,874. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of Progressive stock opened at $254.09 on Friday. The stock has a market cap of $148.81 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The business has a fifty day simple moving average of $245.20 and a 200-day simple moving average of $222.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a 12 month low of $142.87 and a 12 month high of $260.46.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.04 by $0.61. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.54 billion. Progressive had a return on equity of 33.01% and a net margin of 10.17%. Progressive’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. On average, sell-side analysts anticipate that The Progressive Co. will post 13.07 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were given a dividend of $0.10 per share. 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 3.42%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a research report on Monday, August 12th. The Goldman Sachs Group lifted their price target on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Keefe, Bruyette & Woods lifted their price target on Progressive from $255.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Citigroup decreased their target price on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $260.53.

Progressive 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.