The Progressive Co. (NYSE:PGR) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in The Progressive Co. (NYSE:PGR) by 68.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,938 shares of the insurance provider’s stock after purchasing an additional 52,229 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Progressive were worth $32,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Raleigh Capital Management Inc. grew its holdings in shares of Progressive by 20.9% in the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 41 shares in the last quarter. Castleview Partners LLC grew its holdings in shares of Progressive by 2.7% in the third quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Progressive by 21.3% in the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 46 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 purchasing an additional 48 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew 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 valued at $106,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PGR shares. Piper Sandler boosted their price objective on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Bank of America boosted their price objective on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays boosted their price objective on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research report on Monday, August 12th. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

Insider Buying and Selling at Progressive

In other Progressive news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares in the company, valued at approximately $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Progressive news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares in the company, valued at approximately $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,843 shares of company stock worth $18,674,912. Corporate insiders own 0.34% of the company’s stock.

Progressive Price Performance

Progressive stock opened at $243.78 on Monday. The Progressive Co. has a 52 week low of $149.14 and a 52 week 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 firm’s 50-day simple moving average is $250.50 and its 200 day simple moving average is $225.61. The firm has a market capitalization of $142.77 billion, a PE ratio of 17.72, a P/E/G 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. Investors of record on Thursday, October 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio is presently 2.91%.

About Progressive

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.