New Century Financial Group LLC Buys 136 Shares of The Progressive Co. (NYSE:PGR)

New Century Financial Group LLC raised its stake in shares of The Progressive Co. (NYSE:PGR) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,980 shares of the insurance provider’s stock after buying an additional 136 shares during the period. New Century Financial Group LLC’s holdings in Progressive were worth $502,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PGR. RFG Advisory LLC bought a new position in shares of Progressive in the first quarter worth about $538,000. &PARTNERS bought a new position in shares of Progressive in the first quarter worth about $412,000. Global Assets Advisory LLC bought a new position in shares of Progressive in the first quarter worth about $2,301,000. Riverview Trust Co bought a new position in shares of Progressive in the first quarter worth about $121,000. Finally, Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Progressive in the first quarter worth about $206,000. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Down 0.1 %

NYSE PGR opened at $251.12 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $248.81 and its two-hundred day moving average is $224.24. The company has a market capitalization of $147.08 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 0.70 and a beta of 0.35. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46.

Progressive Announces Dividend

The firm 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. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s payout ratio is currently 4.09%.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the completion of the transaction, the insider now directly owns 45,787 shares in the company, valued at $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,862 shares of company stock valued at $17,926,234 in the last three months. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PGR. Bank of America lifted their price objective on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their target price on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $268.81.

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.