The Progressive Co. (NYSE:PGR) Shares Acquired by 180 Wealth Advisors LLC

180 Wealth Advisors LLC increased its position in shares of The Progressive Co. (NYSE:PGR) by 64.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,670 shares of the insurance provider’s stock after purchasing an additional 1,436 shares during the period. 180 Wealth Advisors LLC’s holdings in Progressive were worth $759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PGR. Norges Bank acquired a new stake in shares of Progressive in the 4th quarter worth approximately $1,078,831,000. Wellington Management Group LLP increased its position in shares of Progressive by 14.1% in the third quarter. Wellington Management Group LLP now owns 21,554,503 shares of the insurance provider’s stock valued at $3,002,542,000 after buying an additional 2,666,449 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Progressive by 237.8% during the 4th quarter. 1832 Asset Management L.P. now owns 1,485,750 shares of the insurance provider’s stock worth $236,650,000 after buying an additional 1,045,883 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Progressive in the 1st quarter worth about $188,642,000. Finally, Los Angeles Capital Management LLC increased its holdings in Progressive by 279.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 811,381 shares of the insurance provider’s stock valued at $129,237,000 after acquiring an additional 597,401 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on PGR shares. Morgan Stanley lowered their price target on shares of Progressive from $256.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. BMO Capital Markets reissued an “outperform” rating and issued a $235.00 price target on shares of Progressive in a report on Monday, June 17th. Roth Mkm reaffirmed a “buy” rating and set a $235.00 price objective on shares of Progressive in a research note on Wednesday. Bank of America boosted their target price on shares of Progressive from $279.00 to $286.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, UBS Group raised their price target on shares of Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $216.81.

Progressive Trading Up 1.5 %

Shares of NYSE:PGR traded up $3.16 during trading on Thursday, reaching $211.35. 1,718,721 shares of the stock were exchanged, compared to its average volume of 2,582,399. The firm’s 50-day moving average price is $209.60 and its 200 day moving average price is $192.97. The firm has a market cap of $123.79 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 0.80 and a beta of 0.35. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $217.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 0.32.

Progressive (NYSE:PGR) last released its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.74. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. Progressive’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, sell-side analysts anticipate that The Progressive Co. will post 11.34 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd will be paid a $0.10 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Progressive’s dividend payout ratio (DPR) is currently 4.09%.

Insider Activity at Progressive

In related news, Director Devin C. Johnson sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the sale, the director now directly owns 7,176 shares in the company, valued at approximately $1,494,976.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Steven Broz sold 7,361 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $207.25, for a total value of $1,525,567.25. Following the completion of the sale, the insider now owns 35,503 shares in the company, valued at $7,357,996.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the transaction, the director now directly owns 7,176 shares in the company, valued at $1,494,976.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,518 shares of company stock worth $5,055,674. 0.34% of the stock is currently owned by company insiders.

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.