1,466 Shares in The Progressive Co. (NYSE:PGR) Bought by Good Life Advisors LLC

Good Life Advisors LLC acquired a new position in shares of The Progressive Co. (NYSE:PGR) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,466 shares of the insurance provider’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Progressive by 0.6% during the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after purchasing an additional 285,070 shares during the last quarter. Capital International Investors increased its position in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after buying an additional 670,006 shares in the last quarter. Legal & General Group Plc increased its position in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after buying an additional 92,212 shares in the last quarter. American Century Companies Inc. increased its position in Progressive by 3.0% during the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after buying an additional 69,709 shares in the last quarter. Finally, TD Asset Management Inc increased its position in Progressive by 16.8% during the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock worth $351,289,000 after buying an additional 244,541 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PGR has been the subject of several recent research reports. Jefferies Financial Group raised their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research report on Monday, August 12th. Morgan Stanley raised their price target on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets lowered their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price objective on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Seven 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $268.81.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 22,708 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $4,859,739.08. Following the completion of the sale, the chief financial officer now owns 302,958 shares of the company’s stock, valued at $64,836,041.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John P. Sauerland sold 22,708 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $4,859,739.08. Following the completion of the sale, the chief financial officer now directly owns 302,958 shares of the company’s stock, valued at $64,836,041.58. 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 over the last quarter. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

PGR stock opened at $251.12 on Friday. The stock has a 50-day moving average price of $248.81 and a two-hundred day moving average price of $224.14. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The company has a market cap of $147.07 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 0.70 and a beta of 0.35.

Progressive Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s payout ratio is 3.42%.

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.