BLB&B Advisors LLC Makes New Investment in The Progressive Co. (NYSE:PGR)

BLB&B Advisors LLC bought a new stake in The Progressive Co. (NYSE:PGR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 829 shares of the insurance provider’s stock, valued at approximately $210,000.

Other large investors also recently made changes to their positions in the company. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter worth approximately $25,000. WR Wealth Planners LLC boosted its position in Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 67 shares during the last quarter. Indiana Trust & Investment Management CO bought a new position in Progressive in the 1st quarter valued at $32,000. Hilltop National Bank increased its position in shares of Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of Progressive during the 1st quarter worth $35,000. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the transaction, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Progressive news, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the sale, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,843 shares of company stock worth $18,674,912. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the subject of a number of research analyst reports. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Evercore ISI upped their price objective on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Barclays raised their target price on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup dropped their price target on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company lifted their price objective on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $263.19.

Progressive Trading Down 0.4 %

Shares of PGR stock opened at $247.25 on Thursday. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46. The business’s fifty day moving average is $250.14 and its 200 day moving average is $224.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $144.81 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.10 per share. 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 2.91%.

Progressive Company 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.