Deroy & Devereaux Private Investment Counsel Inc. Purchases 192 Shares of The Progressive Co. (NYSE:PGR)

Deroy & Devereaux Private Investment Counsel Inc. raised its stake in The Progressive Co. (NYSE:PGR) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,183 shares of the insurance provider’s stock after purchasing an additional 192 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Progressive were worth $23,392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PGR. Davis Capital Management bought a new stake in Progressive in the third quarter valued at $25,000. WR Wealth Planners LLC increased its position in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. Hilltop National Bank increased its position in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its position in shares of Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Progressive during the first quarter worth about $36,000. 85.34% of the stock is owned by institutional investors.

Insider Transactions at Progressive

In other news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction on 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 transaction, the insider now owns 45,787 shares of the company’s stock, valued at $10,874,412.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the completion of the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at $10,874,412.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,843 shares of company stock valued at $18,674,912 in the last quarter. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PGR. Evercore ISI boosted their price target on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group boosted their target price on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research note on Monday, August 12th. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Citigroup dropped their price target on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Stock Performance

Progressive stock opened at $242.79 on Friday. The firm’s 50 day simple moving average is $250.85 and its 200 day simple moving average is $226.41. The firm has a market capitalization of $142.19 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 0.67 and a beta of 0.35. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The company has a current ratio of 0.31, a quick 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. Stockholders of record on Thursday, October 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s payout ratio is 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.