The Progressive Co. (NYSE:PGR) Shares Acquired by Waldron Private Wealth LLC

Waldron Private Wealth LLC increased its position in shares of The Progressive Co. (NYSE:PGR) by 0.2% in the 3rd quarter, Holdings Channel reports. The firm owned 21,144 shares of the insurance provider’s stock after purchasing an additional 52 shares during the period. Waldron Private Wealth LLC’s holdings in Progressive were worth $5,366,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PGR. Eastern Bank acquired a new stake in Progressive in the 3rd quarter valued at about $6,627,000. Sequoia Financial Advisors LLC lifted its position in Progressive by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 58,505 shares of the insurance provider’s stock worth $14,846,000 after buying an additional 2,750 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in Progressive during the third quarter worth $212,000. Raleigh Capital Management Inc. grew its holdings in Progressive by 20.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after buying an additional 41 shares in the last quarter. Finally, Evernest Financial Advisors LLC acquired a new stake in Progressive during the third quarter worth about $237,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Broz sold 2,982 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the transaction, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,862 shares of company stock worth $17,926,234. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group upped their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup cut their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. Keefe, Bruyette & Woods upped their price objective on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average target price of $268.81.

Progressive Stock Down 1.4 %

Shares of Progressive stock traded down $3.45 during trading hours on Tuesday, hitting $247.29. The company had a trading volume of 832,560 shares, compared to its average volume of 2,489,263. 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 company’s 50-day moving average is $249.36 and its two-hundred day moving average is $224.53. The company has a market cap of $144.83 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46.

Progressive Dividend Announcement

The company 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 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 (DPR) is currently 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.