The Progressive Co. (NYSE:PGR) Shares Sold by Signaturefd LLC

Signaturefd LLC decreased its holdings in The Progressive Co. (NYSE:PGR) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,259 shares of the insurance provider’s stock after selling 257 shares during the quarter. Signaturefd LLC’s holdings in Progressive were worth $3,111,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other news, insider Steven Broz sold 2,982 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Steven Broz sold 2,982 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the sale, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction dated 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 sale, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,862 shares of company stock valued at $17,926,234 over the last three months. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of research analyst reports. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a report on Monday, August 12th. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Piper Sandler increased their target price on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Evercore ISI increased their target price on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and an average price target of $268.81.

Progressive Stock Down 1.5 %

Progressive stock traded down $3.73 during mid-day trading on Tuesday, hitting $247.01. 540,247 shares of the company’s stock were exchanged, compared to its average volume of 2,487,830. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a market cap of $144.67 billion, a P/E ratio of 25.46, a P/E/G ratio of 0.70 and a beta of 0.35. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The stock has a 50 day moving average of $249.36 and a two-hundred day moving average of $224.53.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s payout ratio is 4.09%.

About Progressive

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.