The Progressive Corporation $PGR Position Lifted by Prairie Advisory LLC

Prairie Advisory LLC lifted its position in shares of The Progressive Corporation (NYSE:PGR) by 37.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,654 shares of the insurance provider’s stock after acquiring an additional 3,458 shares during the quarter. Prairie Advisory LLC’s holdings in Progressive were worth $2,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Progressive during the second quarter valued at about $10,496,271,000. State Street Corp grew its holdings in shares of Progressive by 2.5% during the second quarter. State Street Corp now owns 26,526,959 shares of the insurance provider’s stock worth $5,794,814,000 after purchasing an additional 656,249 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Progressive in the second quarter valued at approximately $2,682,342,000. GQG Partners LLC acquired a new position in shares of Progressive in the second quarter valued at approximately $1,538,570,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Progressive by 6.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,784,205 shares of the insurance provider’s stock valued at $1,482,010,000 after buying an additional 410,326 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other Progressive news, CFO Andrew J. Quigg sold 3,499 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $220.00, for a total transaction of $769,780.00. Following the completion of the sale, the chief financial officer directly owned 42,595 shares in the company, valued at approximately $9,370,900. This trade represents a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Bailo sold 8,452 shares of Progressive stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $212.71, for a total value of $1,797,824.92. Following the completion of the transaction, the insider directly owned 32,348 shares of the company’s stock, valued at approximately $6,880,743.08. This trade represents a 20.72% 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. In the last ninety days, insiders have sold 106,782 shares of company stock valued at $22,965,332. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PGR has been the topic of several recent research reports. Raymond James Financial reiterated an “outperform” rating on shares of Progressive in a research report on Friday. Evercore set a $240.00 price target on shares of Progressive in a research report on Friday, July 10th. Barclays raised their price target on shares of Progressive from $246.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Roth Capital reaffirmed a “buy” rating and set a $245.00 price target (up from $235.00) on shares of Progressive in a research note on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Progressive from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $234.45.

Progressive Trading Down 0.2%

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

Progressive Announces Dividend

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

Progressive Company Profile

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.