The Progressive Co. (NYSE:PGR) Shares Acquired by Astoria Portfolio Advisors LLC.

Astoria Portfolio Advisors LLC. lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 20.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,622 shares of the insurance provider’s stock after acquiring an additional 444 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Progressive were worth $542,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PGR. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Progressive by 10.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 670 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 62 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Progressive by 23.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 42,073 shares of the insurance provider’s stock worth $5,861,000 after buying an additional 7,890 shares during the last quarter. Vinva Investment Management Ltd increased its position in Progressive by 11.7% during the third quarter. Vinva Investment Management Ltd now owns 8,645 shares of the insurance provider’s stock worth $1,214,000 after buying an additional 906 shares during the period. Trexquant Investment LP purchased a new stake in Progressive in the third quarter valued at approximately $1,468,000. Finally, Bamco Inc. NY boosted its holdings in shares of Progressive by 4.0% in the third quarter. Bamco Inc. NY now owns 13,000 shares of the insurance provider’s stock valued at $1,811,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PGR. Wells Fargo & Company lifted their target price on shares of Progressive from $243.00 to $254.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Roth Mkm reaffirmed a “buy” rating and issued a $235.00 target price on shares of Progressive in a report on Wednesday. Keefe, Bruyette & Woods raised their price target on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Citigroup upped their price objective on Progressive from $230.00 to $232.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $235.00 price objective on shares of Progressive in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $216.81.

Insider Buying and Selling

In related news, CAO Mariann Wojtkun Marshall sold 650 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $208.11, for a total value of $135,271.50. Following the sale, the chief accounting officer now directly owns 3,981 shares in the company, valued at approximately $828,485.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Mariann Wojtkun Marshall sold 650 shares of Progressive stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $208.11, for a total transaction of $135,271.50. Following the completion of the transaction, the chief accounting officer now directly owns 3,981 shares in the company, valued at approximately $828,485.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the sale, the director now directly owns 7,176 shares in the company, valued at approximately $1,494,976.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,518 shares of company stock valued at $5,055,674. 0.34% of the stock is owned by insiders.

Progressive Price Performance

Shares of NYSE PGR opened at $207.71 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 0.32. The Progressive Co. has a one year low of $111.41 and a one year high of $217.77. The firm has a market capitalization of $121.66 billion, a P/E ratio of 21.26, a PEG ratio of 0.82 and a beta of 0.35. The company’s fifty day moving average is $209.49 and its two-hundred day moving average is $193.41.

Progressive (NYSE:PGR) last released its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. Analysts forecast that The Progressive Co. will post 11.32 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, July 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, July 3rd. Progressive’s payout ratio is currently 4.09%.

Progressive Company 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.