Amplius Wealth Advisors LLC Invests $212,000 in The Progressive Co. (NYSE:PGR)

Amplius Wealth Advisors LLC bought a new stake in shares of The Progressive Co. (NYSE:PGR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 834 shares of the insurance provider’s stock, valued at approximately $212,000.

Several other hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in shares of Progressive by 12.1% during the 4th quarter. Fisher Asset Management LLC now owns 9,920 shares of the insurance provider’s stock valued at $1,580,000 after buying an additional 1,067 shares in the last quarter. Moody National Bank Trust Division purchased a new position in Progressive during the first quarter valued at approximately $345,000. Massmutual Trust Co. FSB ADV lifted its holdings in Progressive by 4.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,765 shares of the insurance provider’s stock valued at $365,000 after purchasing an additional 73 shares in the last quarter. Signal Advisors Wealth LLC bought a new position in shares of Progressive in the first quarter worth approximately $528,000. Finally, Fulton Bank N.A. increased its stake in shares of Progressive by 5.3% in the first quarter. Fulton Bank N.A. now owns 5,518 shares of the insurance provider’s stock worth $1,141,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Up 1.5 %

Shares of NYSE PGR opened at $255.37 on Thursday. 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 Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. The firm’s 50-day moving average price is $247.56 and its 200-day moving average price is $223.57. The stock has a market capitalization of $149.57 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 0.69 and a beta of 0.35.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.61. The business had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.54 billion. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. On average, equities research analysts anticipate that The Progressive Co. will post 13.07 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s payout ratio is 4.09%.

Analyst Ratings Changes

PGR has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Progressive from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Citigroup lowered their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group boosted their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus target price of $268.19.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 3,975 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $214.01, for a total value of $850,689.75. Following the completion of the sale, the insider now owns 32,780 shares in the company, valued at approximately $7,015,247.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Andrew J. Quigg sold 3,975 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $850,689.75. Following the sale, the insider now directly owns 32,780 shares in the company, valued at approximately $7,015,247.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Jo Murphy sold 9,512 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at $10,874,412.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,383 shares of company stock worth $33,446,453 over the last quarter. Insiders own 0.34% of the company’s stock.

Progressive 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.