The Progressive Corporation $PGR Shares Purchased by Advisory Alpha LLC

Advisory Alpha LLC boosted its position in The Progressive Corporation (NYSE:PGR) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078 shares of the insurance provider’s stock after buying an additional 97 shares during the quarter. Advisory Alpha LLC’s holdings in Progressive were worth $288,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PGR. TruNorth Capital Management LLC lifted its holdings in Progressive by 210.0% in the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after buying an additional 63 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Progressive in the 1st quarter worth $35,000. Activest Wealth Management increased its position in shares of Progressive by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 127 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of Progressive by 1,885.7% in the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 132 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of Progressive in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 30,659 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total value of $7,543,953.54. Following the completion of the transaction, the chief executive officer owned 476,286 shares in the company, valued at approximately $117,194,933.16. This represents a 6.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lori A. Niederst sold 8,063 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $250.18, for a total transaction of $2,017,201.34. Following the completion of the transaction, the insider owned 39,040 shares of the company’s stock, valued at approximately $9,767,027.20. This trade represents a 17.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 58,500 shares of company stock worth $14,430,089 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Progressive Price Performance

Shares of NYSE:PGR opened at $207.84 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The Progressive Corporation has a fifty-two week low of $206.58 and a fifty-two week high of $292.99. The firm has a 50-day simple moving average of $238.82 and a 200 day simple moving average of $255.00. The company has a market cap of $121.84 billion, a PE ratio of 11.40, a P/E/G ratio of 1.22 and a beta of 0.32.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a net margin of 12.57% and a return on equity of 33.88%. The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. During the same period in the prior year, the company earned $3.58 EPS. On average, sell-side analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, October 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio is 2.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PGR. Raymond James Financial dropped their target price on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. BMO Capital Markets dropped their target price on shares of Progressive from $252.00 to $247.00 and set a “market perform” rating for the company in a research report on Thursday, October 16th. Citigroup dropped their target price on shares of Progressive from $312.00 to $301.38 and set a “buy” rating for the company in a research report on Thursday, October 16th. Jefferies Financial Group dropped their target price on shares of Progressive from $309.00 to $287.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Wolfe Research assumed coverage on shares of Progressive in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Progressive presently has an average rating of “Hold” and an average target price of $268.90.

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.