The Progressive Corporation $PGR Shares Acquired by Strategic Planning Group LLC

Strategic Planning Group LLC lifted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 8.1% in the second quarter, HoldingsChannel reports. The firm owned 91,668 shares of the insurance provider’s stock after acquiring an additional 6,890 shares during the period. Progressive makes up about 2.2% of Strategic Planning Group LLC’s portfolio, making the stock its 16th biggest holding. Strategic Planning Group LLC’s holdings in Progressive were worth $20,025,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PGR. Vanguard Group Inc. lifted its stake in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock valued at $12,584,067,000 after buying an additional 593,612 shares in the last quarter. State Street Corp increased its position in Progressive by 0.3% during the third quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after buying an additional 78,374 shares in the last quarter. Capital International Investors increased its position in Progressive by 8.9% during the fourth quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock worth $3,398,123,000 after buying an additional 1,217,527 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Progressive by 11.7% in the fourth quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider’s stock worth $2,375,706,000 after acquiring an additional 1,092,151 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Progressive in the fourth quarter valued at $1,836,094,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of NYSE:PGR opened at $208.84 on Friday. The company has a market cap of $121.42 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.79 and a beta of 0.27. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93. The business has a fifty day simple moving average of $214.25 and a 200-day simple moving average of $206.45.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 1st. Progressive’s dividend payout ratio (DPR) is presently 2.01%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PGR shares. JPMorgan Chase & Co. decreased their price objective on Progressive from $250.00 to $241.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. UBS Group boosted their target price on shares of Progressive from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. William Blair restated a “market perform” rating on shares of Progressive in a report on Wednesday, July 15th. Wells Fargo & Company decreased their price target on shares of Progressive from $205.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday, July 16th. Finally, Mizuho set a $236.00 price target on shares of Progressive in a report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Progressive has a consensus rating of “Hold” and a consensus price target of $235.00.

Insider Transactions at Progressive

In other Progressive news, insider John Jo Murphy sold 8,124 shares of Progressive stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $212.70, for a total value of $1,727,974.80. Following the completion of the sale, the insider owned 41,291 shares in the company, valued at $8,782,595.70. The trade was a 16.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Susan Patricia Griffith sold 37,338 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $212.71, for a total transaction of $7,942,165.98. Following the transaction, the chief executive officer directly owned 522,776 shares of the company’s stock, valued at approximately $111,199,682.96. This represents a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 74,885 shares of company stock worth $15,880,459 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.