Impact Partnership Wealth LLC Sells 88 Shares of The Progressive Co. (NYSE:PGR)

Impact Partnership Wealth LLC reduced its stake in shares of The Progressive Co. (NYSE:PGR) by 3.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,517 shares of the insurance provider’s stock after selling 88 shares during the period. Impact Partnership Wealth LLC’s holdings in Progressive were worth $639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in Progressive during the third quarter worth about $25,000. WR Wealth Planners LLC lifted its position in Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after buying an additional 67 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new stake in Progressive in the first quarter worth approximately $32,000. Hilltop National Bank grew its position in Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in Progressive during the first quarter valued at approximately $35,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Stock Up 0.5 %

Shares of PGR traded up $1.27 during trading hours on Thursday, hitting $248.52. The company had a trading volume of 55,529 shares, compared to its average volume of 2,475,277. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The firm has a fifty day moving average price of $250.14 and a 200-day moving average price of $224.95. The stock has a market capitalization of $145.55 billion, a price-to-earnings ratio of 18.06, 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 quick ratio of 0.31 and a current ratio of 0.31.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s payout ratio is 2.91%.

Insider Activity at Progressive

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now directly owns 13,723 shares in the company, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Progressive news, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’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 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 position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods upped their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Evercore ISI boosted their target price on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

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.