Precision Wealth Strategies LLC Cuts Holdings in The Progressive Co. (NYSE:PGR)

Precision Wealth Strategies LLC decreased its position in shares of The Progressive Co. (NYSE:PGR) by 3.1% in the third quarter, HoldingsChannel reports. The firm owned 1,721 shares of the insurance provider’s stock after selling 55 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Progressive were worth $437,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PGR. Raleigh Capital Management Inc. lifted its stake in Progressive by 20.9% in the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 41 shares during the last quarter. Evernest Financial Advisors LLC bought a new stake in Progressive in the third quarter worth about $237,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Progressive by 38.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 631 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 176 shares during the last quarter. Whittier Trust Co. lifted its stake in Progressive by 1.9% in the third quarter. Whittier Trust Co. now owns 4,343 shares of the insurance provider’s stock worth $1,102,000 after purchasing an additional 81 shares during the last quarter. Finally, Western Financial Corp CA bought a new stake in Progressive in the third quarter worth about $695,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PGR shares. Evercore ISI raised their price objective on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their target price on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Roth Mkm raised their target price on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. HSBC raised shares of 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. Finally, Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $268.81.

Progressive Trading Down 0.2 %

NYSE:PGR opened at $250.74 on Tuesday. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The firm has a fifty day simple moving average of $249.36 and a 200-day simple moving average of $224.53. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $146.86 billion, a P/E ratio of 25.66, a PEG ratio of 0.70 and a beta of 0.35.

Progressive Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s payout ratio is currently 4.09%.

Insider Transactions at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now directly owns 473,735 shares in the company, valued at $119,475,967. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Progressive news, insider John Jo Murphy sold 9,512 shares of the company’s 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 transaction, the insider now owns 45,787 shares in the company, valued at approximately $10,874,412.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the company’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 transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,862 shares of company stock worth $17,926,234. Company insiders own 0.34% of the company’s stock.

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.