The Progressive Co. (NYSE:PGR) Stock Position Lifted by Clarus Group Inc.

Clarus Group Inc. grew its position in shares of The Progressive Co. (NYSE:PGR) by 45.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,149 shares of the insurance provider’s stock after buying an additional 1,290 shares during the period. Clarus Group Inc.’s holdings in Progressive were worth $1,053,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PGR. Davis Capital Management bought a new position in Progressive during the 3rd quarter worth approximately $25,000. WR Wealth Planners LLC lifted its holdings in Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after buying an additional 67 shares during the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Progressive in the 1st quarter worth approximately $32,000. Hilltop National Bank lifted its holdings in shares of Progressive by 126.0% in the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of Progressive in the 1st quarter worth approximately $35,000. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the transaction, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Broz sold 6,122 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,862 shares of company stock valued at $17,926,234. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of NYSE PGR traded down $0.52 during trading hours on Monday, hitting $250.60. 671,595 shares of the company’s stock were exchanged, compared to its average volume of 2,487,846. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $146.78 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 0.70 and a beta of 0.35. The company’s 50-day moving average price is $248.81 and its 200-day moving average price is $224.24.

Progressive Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Evercore ISI raised their price target on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Roth Mkm raised their price target on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company raised their price target on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $268.81.

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.