979 Shares in The Progressive Co. (NYSE:PGR) Bought by HBW Advisory Services LLC

HBW Advisory Services LLC bought a new stake in The Progressive Co. (NYSE:PGR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 979 shares of the insurance provider’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Bank & Trust Co acquired a new position in Progressive during the 4th quarter worth approximately $25,000. Davis Capital Management bought a new stake in shares of Progressive during the third quarter worth $25,000. WR Wealth Planners LLC increased its holdings in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after buying an additional 67 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Progressive in the 1st quarter valued at $32,000. Finally, Hilltop National Bank boosted its holdings in shares of Progressive by 126.0% during 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 in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Up 1.2 %

Shares of NYSE:PGR opened at $255.36 on Friday. The business’s 50-day moving average is $241.69 and its 200-day moving average is $221.03. The Progressive Co. has a 1 year low of $141.73 and a 1 year high of $260.46. The company has a market capitalization of $149.56 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 0.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.61. The firm had revenue of $17.90 billion for 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%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. Equities research analysts predict that The Progressive Co. will post 13.02 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, October 3rd. Progressive’s payout ratio is 4.09%.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Progressive from $210.00 to $239.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Citigroup dropped their price objective 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. Wells Fargo & Company boosted their target price on shares of Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Roth Mkm raised their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a research note on Monday, August 12th. Six 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 company’s stock. According to data from MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and an average price target of $257.18.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 43,371 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the transaction, the chief executive officer now owns 517,105 shares of the company’s stock, valued at $110,665,641.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Susan Patricia Griffith sold 43,371 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $110,665,641.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 22,708 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $4,859,739.08. Following the completion of the transaction, the chief financial officer now owns 302,958 shares in the company, valued at approximately $64,836,041.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,512 shares of company stock valued at $33,912,874. Corporate insiders own 0.34% of the company’s stock.

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.