The Progressive Corporation $PGR Shares Acquired by Prairie Advisory LLC

Prairie Advisory LLC boosted its stake in The Progressive Corporation (NYSE:PGR) by 37.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,654 shares of the insurance provider’s stock after purchasing an additional 3,458 shares during the quarter. Prairie Advisory LLC’s holdings in Progressive were worth $2,623,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PGR. BlackRock Inc. bought a new position in shares of Progressive during the 2nd quarter worth about $10,496,271,000. Bank of America Corp DE acquired a new stake in shares of Progressive in the 2nd quarter valued at about $2,682,342,000. GQG Partners LLC bought a new stake in Progressive in the 2nd quarter valued at about $1,538,570,000. Deutsche Bank AG bought a new stake in Progressive in the 2nd quarter valued at about $1,098,838,000. Finally, Jupiter Topco LLC acquired a new position in Progressive during the 2nd quarter worth approximately $935,172,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 0.2%

Shares of Progressive stock traded down $0.33 on Monday, hitting $218.16. The company had a trading volume of 905,844 shares, compared to its average volume of 3,089,655. The stock has a market capitalization of $126.83 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 2.63 and a beta of 0.25. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $239.38. The stock has a 50 day moving average of $214.78 and a 200-day moving average of $209.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.31.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio is 2.01%.

Insider Buying and Selling at Progressive

In related news, insider Lori Niederst sold 7,339 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $209.29, for a total value of $1,535,979.31. Following the completion of the sale, the insider directly owned 42,567 shares of the company’s stock, valued at approximately $8,908,847.43. This represents a 14.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,225 shares of the firm’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $204.29, for a total value of $250,255.25. Following the transaction, the insider owned 30,032 shares in the company, valued at approximately $6,135,237.28. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 106,782 shares of company stock valued at $22,965,332 in the last three months. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PGR. Morgan Stanley raised Progressive from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $210.00 in a research note on Friday, July 24th. Barclays raised their price objective on Progressive from $246.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Jefferies Financial Group restated a “hold” rating and set a $228.00 price objective (up from $213.00) on shares of Progressive in a report on Wednesday, August 19th. Bank of America upped their target price on Progressive from $302.00 to $314.00 in a research report on Thursday, October 1st. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Progressive in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Progressive presently has an average rating of “Hold” and an average price target of $234.45.

About Progressive

Progressive Corporation is an insurance holding company headquartered in Mayfield Village, Ohio. Founded in 1937, the company provides insurance products primarily to consumers and businesses in the United States. Progressive distributes its products directly through its website, mobile channels and call centers, as well as through independent agents and brokers.

The company is best known for personal auto insurance, including coverage for cars, motorcycles, boats, recreational vehicles and other personal vehicles.