Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $11.07 Million Position in The Progressive Co. (NYSE:PGR)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in The Progressive Co. (NYSE:PGR) by 2,717.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,859 shares of the insurance provider’s stock after purchasing an additional 43,267 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Progressive were worth $11,074,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PGR. Davis Capital Management bought a new position in Progressive during the third quarter valued at approximately $25,000. WR Wealth Planners LLC lifted its stake in shares of Progressive by 119.6% in 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 last quarter. Hilltop National Bank lifted its stake in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Progressive during the first quarter valued at about $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John Jo Murphy sold 9,512 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Jo Murphy sold 9,512 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 45,787 shares in the company, valued at $10,874,412.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock worth $18,674,912 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods upped their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Citigroup dropped their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $263.19.

Progressive Price Performance

PGR traded up $1.39 during midday trading on Wednesday, reaching $243.07. 87,520 shares of the company’s stock were exchanged, compared to its average volume of 2,455,251. The business has a 50-day simple moving average of $250.69 and a two-hundred day simple moving average of $226.17. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46. The firm has a market capitalization of $142.36 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 0.67 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.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date 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.