The Progressive Corporation $PGR Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its holdings in shares of The Progressive Corporation (NYSE:PGR) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,071 shares of the insurance provider’s stock after purchasing an additional 212 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Progressive were worth $3,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PGR. Highline Wealth Partners LLC increased its position in Progressive by 114.0% in the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 49 shares during the period. TruNorth Capital Management LLC grew its stake in shares of Progressive by 210.0% in the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. HWG Holdings LP acquired a new position in shares of Progressive in the first quarter valued at approximately $28,000. Garde Capital Inc. purchased a new stake in shares of Progressive during the first quarter worth approximately $33,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Progressive during the first quarter worth $35,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Progressive

In related news, insider John Jo Murphy sold 2,218 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.10, for a total value of $536,977.80. Following the sale, the insider owned 43,506 shares of the company’s stock, valued at approximately $10,532,802.60. This represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the transaction, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. The trade was a 29.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,045 shares of company stock worth $31,997,390 in the last quarter. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of several recent research reports. Evercore ISI dropped their price objective on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating on the stock in a research note on Wednesday. Citigroup reiterated a “buy” rating on shares of Progressive in a research note on Friday, August 29th. Barclays reduced their price objective on shares of Progressive from $287.00 to $281.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 19th. Cantor Fitzgerald raised Progressive to a “hold” rating in a report on Wednesday, August 13th. Finally, Wall Street Zen downgraded Progressive from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $279.63.

Progressive Stock Performance

Shares of PGR stock opened at $246.10 on Monday. The stock has a fifty day moving average price of $245.14 and a 200 day moving average price of $260.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $144.27 billion, a PE ratio of 13.86, a P/E/G ratio of 1.37 and a beta of 0.32. The Progressive Corporation has a 1 year low of $228.54 and a 1 year high of $292.99.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.43 by $0.45. The business had revenue of $20.08 billion during the quarter, compared to the consensus estimate of $20.39 billion. Progressive had a return on equity of 35.37% and a net margin of 12.66%.The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.48 EPS. Sell-side analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 2nd. Progressive’s dividend payout ratio (DPR) is 2.25%.

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.