Legacy Wealth Asset Management LLC Has $2.97 Million Stake in The Progressive Co. (NYSE:PGR)

Legacy Wealth Asset Management LLC trimmed its stake in shares of The Progressive Co. (NYSE:PGR) by 2.5% during the third quarter, HoldingsChannel reports. The fund owned 11,700 shares of the insurance provider’s stock after selling 306 shares during the period. Progressive comprises about 0.8% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Legacy Wealth Asset Management LLC’s holdings in Progressive were worth $2,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Davis Capital Management bought a new position in Progressive in the third quarter valued at $25,000. WR Wealth Planners LLC grew its position in shares of Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares during the period. Hilltop National Bank grew its position in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares during the period. Register Financial Advisors LLC bought a new position in shares of Progressive in the 1st quarter valued at about $35,000. Finally, DiNuzzo Private Wealth Inc. grew its position in shares of Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PGR shares. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI lifted their price objective 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. BMO Capital Markets decreased their price objective on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Citigroup reduced their target price on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Progressive Price Performance

Shares of Progressive stock opened at $243.78 on Friday. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. 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 company has a 50-day simple moving average of $250.34 and a two-hundred day simple moving average of $225.10. The stock has a market capitalization of $142.77 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35.

Progressive Dividend Announcement

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

Insiders Place Their Bets

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 shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the transaction, the director now directly owns 13,723 shares in the company, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 directly owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock worth $18,674,912 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.