Warren Street Wealth Advisors LLC Takes $247,000 Position in The Progressive Co. (NYSE:PGR)

Warren Street Wealth Advisors LLC purchased a new position in shares of The Progressive Co. (NYSE:PGR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 974 shares of the insurance provider’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGR. Fisher Asset Management LLC grew its position in shares of Progressive by 12.1% during the fourth quarter. Fisher Asset Management LLC now owns 9,920 shares of the insurance provider’s stock worth $1,580,000 after acquiring an additional 1,067 shares during the last quarter. RFG Advisory LLC purchased a new position in Progressive during the 1st quarter worth $538,000. &PARTNERS acquired a new position in Progressive in the first quarter valued at $412,000. Ballentine Partners LLC raised its holdings in shares of Progressive by 6.0% in the first quarter. Ballentine Partners LLC now owns 10,503 shares of the insurance provider’s stock valued at $2,172,000 after buying an additional 599 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of Progressive during the first quarter worth about $2,301,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Performance

NYSE PGR opened at $251.12 on Friday. The business has a 50 day moving average price of $248.81 and a 200 day moving average price of $224.14. The company has a market capitalization of $147.07 billion, a P/E ratio of 21.50, a PEG ratio of 0.70 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 debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were given 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 of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio is currently 3.42%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PGR shares. JPMorgan Chase & Co. boosted their price target on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler upped their price target on Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. BMO Capital Markets decreased their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Morgan Stanley boosted their price objective on shares of Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $268.81.

Insider Transactions at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Andrew J. Quigg sold 3,975 shares of the company’s 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 owns 32,780 shares of the company’s stock, valued at approximately $7,015,247.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,383 shares of company stock valued at $33,446,453 in the last 90 days. 0.34% of the stock is currently owned by insiders.

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.