The Progressive Co. (NYSE:PGR) Shares Bought by Park Edge Advisors LLC

Park Edge Advisors LLC grew its position in The Progressive Co. (NYSE:PGR) by 47.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,826 shares of the insurance provider’s stock after purchasing an additional 1,545 shares during the period. Park Edge Advisors LLC’s holdings in Progressive were worth $1,225,000 at the end of the most recent quarter.

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

Progressive Stock Down 1.3 %

NYSE:PGR traded down $3.09 during trading hours on Friday, hitting $243.78. The company’s stock had a trading volume of 1,594,653 shares, compared to its average volume of 2,476,907. The stock has a market capitalization of $142.77 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. 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 stock has a fifty day moving average of $250.50 and a 200-day moving average of $225.48. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PGR shares. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Barclays lifted their price objective on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday. Bank of America increased their target price on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Citigroup reduced their price target on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 2,981 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 value of $10,937,914.00. Following the completion of the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at $119,475,967. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Broz sold 2,981 shares of Progressive stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock worth $18,674,912 over the last 90 days. 0.34% of the stock is owned by insiders.

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.