The Progressive Co. (NYSE:PGR) Shares Sold by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. lessened its holdings in shares of The Progressive Co. (NYSE:PGRFree Report) by 22.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 419 shares of the insurance provider’s stock after selling 123 shares during the period. Armstrong Advisory Group Inc.’s holdings in Progressive were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aviance Capital Partners LLC acquired a new position in shares of Progressive during the first quarter valued at $3,628,000. Concurrent Investment Advisors LLC raised its holdings in Progressive by 66.4% during the first quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock worth $1,409,000 after purchasing an additional 2,719 shares in the last quarter. Diversified Trust Co boosted its stake in Progressive by 84.3% during the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after purchasing an additional 11,770 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of Progressive by 90.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 21,056 shares of the insurance provider’s stock valued at $4,354,000 after purchasing an additional 10,000 shares during the period. Finally, Councilmark Asset Management LLC bought a new stake in shares of Progressive in the 1st quarter worth $1,890,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Progressive from $255.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Piper Sandler boosted their target price on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Roth Mkm lifted their price target on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research report on Monday, August 12th. Finally, Wells Fargo & Company boosted their target price on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Six equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.53.

View Our Latest Stock Report on PGR

Progressive Stock Down 0.9 %

Shares of Progressive stock opened at $251.88 on Tuesday. The stock has a 50-day simple moving average of $246.02 and a 200-day simple moving average of $223.03. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The firm has a market cap of $147.53 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 0.69 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:PGRGet Free Report) last posted its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, topping 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 company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.54 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, equities research analysts expect that The Progressive Co. will post 13.07 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were 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 was Thursday, October 3rd. Progressive’s payout ratio is 4.09%.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 2,982 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00. Following the transaction, the insider now owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,371 shares of Progressive stock in a transaction 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 transaction, the chief executive officer now owns 517,105 shares in the company, valued at $110,665,641.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,512 shares of company stock worth $33,912,874 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Progressive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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