The Progressive Co. (NYSE:PGR) Shares Acquired by Fairway Wealth LLC

Fairway Wealth LLC increased its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,683 shares of the insurance provider’s stock after acquiring an additional 83 shares during the quarter. Fairway Wealth LLC’s holdings in Progressive were worth $765,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sachetta LLC acquired a new stake in shares of Progressive in the 4th quarter worth $25,000. Northwest Bank & Trust Co purchased a new position in Progressive during the fourth quarter worth about $25,000. WR Wealth Planners LLC boosted its holdings in Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new stake in shares of Progressive in the 1st quarter valued at approximately $32,000. Finally, Hilltop National Bank increased 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 worth $34,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Jefferies Financial Group increased their price target on Progressive from $256.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. The Goldman Sachs Group upgraded shares of Progressive from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $230.00 to $262.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods increased their target price on shares of Progressive from $255.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Bank of America lifted their price target on shares of Progressive from $294.00 to $312.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.12.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 43,371 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 $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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Susan Patricia Griffith sold 43,371 shares of the company’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 value of $9,281,827.71. Following the completion of the transaction, the chief executive officer now directly owns 517,105 shares of the company’s stock, valued at $110,665,641.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Quigg sold 3,975 shares of the firm’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 $850,689.75. Following the sale, the insider now directly owns 32,780 shares in the company, valued at approximately $7,015,247.80. The disclosure for this sale can be found here. In the last three months, insiders sold 146,704 shares of company stock valued at $33,367,408. Insiders own 0.34% of the company’s stock.

Progressive Trading Up 0.3 %

NYSE:PGR opened at $256.31 on Tuesday. The stock has a fifty day moving average price of $230.47 and a 200 day moving average price of $215.53. 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 Progressive Co. has a 12-month low of $137.59 and a 12-month high of $260.46. The firm has a market cap of $150.12 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 0.82 and a beta of 0.35.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.61. The business had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.54 billion. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. Sell-side analysts anticipate that The Progressive Co. will post 12.29 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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

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.