The Progressive Corporation $PGR Shares Sold by Strata Wealth Advisors LLC

Strata Wealth Advisors LLC decreased its holdings in The Progressive Corporation (NYSE:PGR) by 12.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 17,446 shares of the insurance provider’s stock after selling 2,531 shares during the quarter. Progressive comprises approximately 1.1% of Strata Wealth Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Strata Wealth Advisors LLC’s holdings in Progressive were worth $4,308,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Davis Capital Management purchased a new stake in Progressive during the 3rd quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Progressive during the second quarter worth approximately $33,000. Howard Hughes Medical Institute bought a new stake in shares of Progressive in the second quarter worth $34,000. Westside Investment Management Inc. raised 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 acquiring an additional 117 shares in the last quarter. Finally, TruNorth Capital Management LLC raised its holdings in Progressive by 450.0% in the third quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock valued at $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.

Insider Buying and Selling

In related news, CIO Jonathan S. Bauer sold 2,266 shares of Progressive stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $203.05, for a total value of $460,111.30. Following the sale, the executive directly owned 26,250 shares in the company, valued at $5,330,062.50. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,364 shares of company stock valued at $2,876,122. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGR. JPMorgan Chase & Co. dropped their target price on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Wells Fargo & Company lowered their price objective on Progressive from $220.00 to $214.00 and set an “equal weight” rating for the company in a report on Thursday, February 19th. Roth Mkm set a $235.00 price objective on Progressive in a research note on Thursday, February 19th. Barclays upgraded Progressive from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $257.00 to $265.00 in a research report on Thursday, January 8th. Finally, Jefferies Financial Group set a $216.00 price target on Progressive in a research report on Wednesday, February 11th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $244.71.

Progressive Stock Up 1.1%

NYSE:PGR opened at $205.85 on Wednesday. The company has a current ratio of 0.38, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $211.50 and a 200-day moving average of $225.87. The firm has a market capitalization of $120.71 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 8.88 and a beta of 0.32. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $292.99.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is presently 2.08%.

Progressive Profile

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.