Park Place Capital Corp Has $1.19 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Park Place Capital Corp boosted its position in shares of The Progressive Co. (NYSE:PGR) by 32.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,706 shares of the insurance provider’s stock after purchasing an additional 1,144 shares during the quarter. Park Place Capital Corp’s holdings in Progressive were worth $1,194,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its holdings in shares of Progressive by 21.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after buying an additional 46 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Progressive by 11.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in shares of Progressive by 10.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 48 shares in the last quarter. Graypoint LLC raised its position in shares of Progressive by 1.2% during the second quarter. Graypoint LLC now owns 4,202 shares of the insurance provider’s stock worth $873,000 after purchasing an additional 49 shares during the period. Finally, City State Bank lifted its holdings in shares of Progressive by 8.2% during the 2nd quarter. City State Bank now owns 661 shares of the insurance provider’s stock valued at $137,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Progressive stock traded up $3.74 during mid-day trading on Tuesday, hitting $249.26. 413,360 shares of the company’s stock traded hands, compared to its average volume of 2,493,415. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $242.33 and a two-hundred day simple moving average of $221.42. The Progressive Co. has a fifty-two week low of $141.84 and a fifty-two week high of $260.46. The stock has a market cap of $145.98 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 0.71 and a beta of 0.35.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.61. Progressive had a net margin of 10.17% and a return on equity of 33.01%. The firm had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.54 billion. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue was up 21.6% on a year-over-year basis. On average, research analysts expect that The Progressive Co. will post 13.01 EPS for the current fiscal year.

Progressive Dividend Announcement

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

Insider Buying and Selling

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the 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 transaction, the director now owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the business’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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven Broz sold 2,982 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now owns 29,334 shares in the company, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,512 shares of company stock valued at $33,912,874. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group increased their target price on Progressive from $256.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their price objective on shares of Progressive from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. BMO Capital Markets cut their price objective on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on Progressive from $210.00 to $239.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Six investment 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.18.

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.