The Progressive Corporation $PGR Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc raised its stake in The Progressive Corporation (NYSE:PGR) by 36.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,240 shares of the insurance provider’s stock after acquiring an additional 5,184 shares during the quarter. Prospera Financial Services Inc’s holdings in Progressive were worth $4,752,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Davis Capital Management acquired a new position in shares of Progressive in the 3rd quarter valued at $25,000. Atlantic Union Bankshares Corp acquired a new stake in Progressive during the second quarter valued at $33,000. Westside Investment Management Inc. increased its holdings in Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Progressive in the second quarter worth about $34,000. Finally, TruNorth Capital Management LLC boosted its stake in shares of Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PGR. Zacks Research lowered Progressive from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. William Blair downgraded Progressive from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. decreased their target price on Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Progressive in a report on Monday, December 29th. Finally, Jefferies Financial Group set a $216.00 price objective on shares of Progressive in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and a consensus target price of $250.35.

Progressive Trading Up 2.9%

Shares of PGR stock opened at $208.40 on Thursday. The Progressive Corporation has a fifty-two week low of $197.92 and a fifty-two week high of $292.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.38. The stock’s fifty day moving average is $215.77 and its two-hundred day moving average is $228.41. The firm has a market capitalization of $122.20 billion, a P/E ratio of 10.83, a PEG ratio of 7.09 and a beta of 0.32.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive’s dividend payout ratio is currently 2.08%.

Insider Buying and Selling at Progressive

In related news, insider Andrew J. Quigg sold 1,649 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $336,973.15. Following the completion of the sale, the insider owned 39,626 shares of the company’s stock, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John P. Sauerland sold 5,000 shares of Progressive stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $228.48, for a total value of $1,142,400.00. Following the transaction, the chief financial officer owned 223,024 shares in the company, valued at approximately $50,956,523.52. The trade was a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,443 shares of company stock worth $2,723,061 in the last quarter. Insiders own 0.34% of the company’s stock.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.