Impact Partnership Wealth LLC Sells 88 Shares of The Progressive Co. (NYSE:PGR)

Impact Partnership Wealth LLC lowered its position in The Progressive Co. (NYSE:PGR) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,517 shares of the insurance provider’s stock after selling 88 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Progressive were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Aviance Capital Partners LLC bought a new stake in shares of Progressive during the 1st quarter valued at about $3,628,000. Concurrent Investment Advisors LLC grew its position in Progressive by 66.4% during the first quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock valued at $1,409,000 after buying an additional 2,719 shares during the period. Diversified Trust Co increased its holdings in Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after buying an additional 11,770 shares during the last quarter. Councilmark Asset Management LLC bought a new position in Progressive in the first quarter worth approximately $1,890,000. Finally, Sycomore Asset Management boosted its stake in shares of Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after acquiring an additional 2,450 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the subject of several analyst reports. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America upped their price target on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research note on Monday, August 12th. Finally, Evercore ISI raised their target price 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. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $263.19.

Insider Activity at Progressive

In other news, CEO Susan Patricia Griffith sold 43,370 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 2,981 shares of the 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 sale, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock valued at $18,674,912 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Progressive Price Performance

NYSE:PGR traded up $1.27 during trading hours on Thursday, reaching $248.52. The stock had a trading volume of 55,529 shares, compared to its average volume of 2,475,277. The stock has a market capitalization of $145.55 billion, a PE ratio of 18.06, a PEG ratio of 0.69 and a beta of 0.35. 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 price of $250.14 and a two-hundred day moving average price of $224.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31.

Progressive Announces Dividend

The firm 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. 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 dividend payout ratio is presently 2.91%.

About Progressive

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.