791 Shares in The Progressive Co. (NYSE:PGR) Purchased by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. acquired a new position in The Progressive Co. (NYSE:PGR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 791 shares of the insurance provider’s stock, valued at approximately $201,000.

Several other institutional investors have also added to or reduced their stakes in PGR. Raleigh Capital Management Inc. boosted its holdings in shares of Progressive by 20.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after acquiring an additional 41 shares during the last quarter. Castleview Partners LLC lifted its position in Progressive by 2.7% during the third quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares during the period. Sunbelt Securities Inc. boosted its holdings in Progressive by 21.3% in the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 46 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Progressive by 11.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 48 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Progressive by 10.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock valued at $106,000 after buying an additional 48 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction on Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the sale, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the completion of the sale, the insider now directly owns 45,787 shares in the company, valued at $10,874,412.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares in the company, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PGR. Evercore ISI upped their target price on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their target price on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley increased their price target on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group lifted their price objective on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Six investment 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Progressive Price Performance

NYSE:PGR opened at $244.26 on Tuesday. The stock has a 50 day moving average of $250.63 and a two-hundred day moving average of $225.91. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The firm has a market cap of $143.06 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 0.67 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive Announces Dividend

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

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.