Bellecapital International Ltd. Has $554,000 Stake in The Progressive Co. (NYSE:PGR)

Bellecapital International Ltd. reduced its stake in shares of The Progressive Co. (NYSE:PGR) by 40.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,182 shares of the insurance provider’s stock after selling 1,494 shares during the period. Bellecapital International Ltd.’s holdings in Progressive were worth $554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Davis Capital Management bought a new position in shares of Progressive during the third quarter worth about $25,000. WR Wealth Planners LLC increased its position in Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares during the period. Indiana Trust & Investment Management CO bought a new position in Progressive during the 1st quarter worth approximately $32,000. Hilltop National Bank lifted its position in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in shares of Progressive in the 1st quarter valued at $35,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.3 %

Shares of NYSE:PGR traded down $0.69 during midday trading on Monday, hitting $250.43. 593,614 shares of the company’s stock were exchanged, compared to its average volume of 2,487,271. 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 Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The company has a market cap of $146.68 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 0.70 and a beta of 0.35. The stock has a 50 day moving average price of $248.81 and a 200-day moving average price of $224.24.

Progressive Announces Dividend

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

Analyst Ratings Changes

PGR has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price objective on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. Citigroup lowered their target price on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Finally, Evercore ISI increased their price target on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $268.81.

Insider Transactions at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. 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 available at this link. In other news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,862 shares of company stock valued at $17,926,234 over the last ninety days. 0.34% of the stock is currently owned by insiders.

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.