The Progressive Co. (NYSE:PGR) Shares Sold by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lowered its position in The Progressive Co. (NYSE:PGR) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,142 shares of the insurance provider’s stock after selling 171 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Progressive were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC acquired a new position in Progressive during the 1st quarter worth $987,000. First Trust Direct Indexing L.P. grew its position in Progressive by 4.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 20,292 shares of the insurance provider’s stock valued at $4,197,000 after buying an additional 833 shares in the last quarter. New Century Financial Group LLC acquired a new position in Progressive during the 1st quarter valued at about $249,000. Maryland State Retirement & Pension System raised its position in shares of Progressive by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 45,887 shares of the insurance provider’s stock worth $9,530,000 after buying an additional 389 shares in the last quarter. Finally, Hartline Investment Corp acquired a new stake in shares of Progressive in the 1st quarter worth approximately $265,000. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Down 1.1 %

Progressive stock opened at $241.68 on Wednesday. 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 12 month low of $149.14 and a 12 month high of $260.46. The company’s fifty day simple moving average is $250.69 and its 200-day simple moving average is $226.17. The stock has a market cap of $141.54 billion, a P/E ratio of 17.56, a P/E/G ratio of 0.67 and a beta of 0.35.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Thursday, October 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Insider Activity

In related news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on 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 owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction on 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 owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. 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 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 directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock worth $18,674,912 in the last three months. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PGR shares. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a research note on Monday, August 12th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Bank of America raised their target price on Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Roth Mkm boosted their target price on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, BMO Capital Markets dropped their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $263.19.

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.