Jackson Wealth Management LLC Takes $281,000 Position in The Progressive Co. (NYSE:PGR)

Jackson Wealth Management LLC acquired a new stake in shares of The Progressive Co. (NYSE:PGR) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 1,109 shares of the insurance provider’s stock, valued at approximately $281,000.

A number of other large investors have also recently made changes to their positions in the stock. Raleigh Capital Management Inc. raised its stake in Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 41 shares during the period. Castleview Partners LLC increased its position in shares of Progressive by 2.7% during the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Progressive by 21.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 46 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Progressive by 11.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 48 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Progressive by 10.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock valued at $106,000 after acquiring an additional 48 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays upped their target price on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods upped their target price on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America increased their price objective on Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price objective on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Progressive news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the sale, the insider now directly owns 32,316 shares in the company, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. This 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 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Up 0.6 %

NYSE PGR traded up $1.40 during trading hours on Thursday, hitting $248.65. 194,195 shares of the company were exchanged, compared to its average volume of 2,475,950. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The company has a 50 day moving average of $250.14 and a two-hundred day moving average of $224.95. The firm has a market cap of $145.63 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 0.69 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 business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were given a $0.10 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.