Deroy & Devereaux Private Investment Counsel Inc. Buys 192 Shares of The Progressive Co. (NYSE:PGR)

Deroy & Devereaux Private Investment Counsel Inc. raised its stake in The Progressive Co. (NYSE:PGR) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,183 shares of the insurance provider’s stock after acquiring an additional 192 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Progressive were worth $23,392,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PGR. Norden Group LLC bought a new position in Progressive in the 1st quarter valued at about $987,000. Private Advisor Group LLC raised its holdings in Progressive by 7.4% in the 1st quarter. Private Advisor Group LLC now owns 10,610 shares of the insurance provider’s stock valued at $2,194,000 after acquiring an additional 727 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Progressive by 18.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,671 shares of the insurance provider’s stock valued at $35,505,000 after acquiring an additional 26,202 shares during the period. Precision Wealth Strategies LLC bought a new position in Progressive in the 1st quarter valued at about $424,000. Finally, Kinsale Capital Group Inc. increased its holdings in shares of Progressive by 19.5% during the first quarter. Kinsale Capital Group Inc. now owns 25,632 shares of the insurance provider’s stock worth $5,301,000 after purchasing an additional 4,181 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Transactions at Progressive

In other news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the transaction, the insider now owns 45,787 shares in the company, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the transaction, the insider now owns 45,787 shares in the company, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,843 shares of company stock worth $18,674,912. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Barclays raised their target price on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Piper Sandler raised their target price on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Progressive Stock Performance

Shares of Progressive stock opened at $242.79 on Friday. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $142.19 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.67 and a beta of 0.35. The company’s 50 day moving average price is $250.85 and its two-hundred day moving average price is $226.41.

Progressive Dividend Announcement

The firm 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. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.