The Progressive Co. (NYSE:PGR) Shares Purchased by DiNuzzo Private Wealth Inc.

DiNuzzo Private Wealth Inc. raised its stake in shares of The Progressive Co. (NYSE:PGR) by 114.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137 shares of the insurance provider’s stock after acquiring an additional 73 shares during the period. DiNuzzo Private Wealth Inc.’s holdings in Progressive were worth $35,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. grew its stake in Progressive by 21.3% in 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. increased its holdings 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 valued at $95,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in 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 acquiring an additional 48 shares in the last quarter. Graypoint LLC increased its holdings in Progressive by 1.2% during the 2nd quarter. Graypoint LLC now owns 4,202 shares of the insurance provider’s stock valued at $873,000 after acquiring an additional 49 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC increased its holdings in Progressive by 0.3% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 18,556 shares of the insurance provider’s stock valued at $4,709,000 after acquiring an additional 49 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Trading Down 1.6 %

Shares of PGR stock opened at $251.34 on Friday. The stock has a market cap of $147.21 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46. The firm’s 50 day moving average price is $248.22 and its two-hundred day moving average price is $223.76.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.61. The firm had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.54 billion. Progressive had a net margin of 10.17% and a return on equity of 33.01%. Progressive’s revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. On average, analysts anticipate that The Progressive Co. will post 13.07 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is 4.09%.

Analyst Upgrades and Downgrades

PGR has been the subject of several recent research reports. Evercore ISI raised their target price on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Roth Mkm raised their price target on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a research note on Monday, August 12th. Finally, Bank of America raised their price target on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven equities research 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 company. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average price target of $268.19.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 22,708 shares of Progressive stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $4,859,739.08. Following the transaction, the chief financial officer now directly owns 302,958 shares of the company’s stock, valued at $64,836,041.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Andrew J. Quigg sold 3,975 shares of Progressive stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total value of $850,689.75. Following the completion of the sale, the insider now owns 32,780 shares in the company, valued at approximately $7,015,247.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John P. Sauerland sold 22,708 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $4,859,739.08. Following the completion of the sale, the chief financial officer now owns 302,958 shares of the company’s stock, valued at approximately $64,836,041.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,383 shares of company stock valued at $33,446,453 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.