Mowery & Schoenfeld Wealth Management LLC Grows Stock Position in The Progressive Co. (NYSE:PGR)

Mowery & Schoenfeld Wealth Management LLC lifted its stake in The Progressive Co. (NYSE:PGR) by 200.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 412 shares of the insurance provider’s stock after buying an additional 275 shares during the quarter. Mowery & Schoenfeld Wealth Management LLC’s holdings in Progressive were worth $105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Davis Capital Management acquired a new position in shares of Progressive in the third quarter worth about $25,000. WR Wealth Planners LLC increased its stake in shares of Progressive by 119.6% in the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the period. Indiana Trust & Investment Management CO acquired a new stake in Progressive in the first quarter valued at approximately $32,000. Finally, Hilltop National Bank increased its position in shares of Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after buying an additional 92 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Progressive news, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now owns 45,787 shares of the company’s stock, valued at $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is currently owned by company insiders.

Progressive Trading Up 0.4 %

Progressive stock traded up $1.08 during midday trading on Thursday, hitting $248.33. 274,895 shares of the stock were exchanged, compared to its average volume of 2,476,342. 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 stock’s 50-day simple moving average is $250.14 and its 200 day simple moving average is $224.95. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46. The stock has a market capitalization of $145.45 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 0.69 and a beta of 0.35.

Progressive Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio is currently 4.09%.

Analysts Set New Price Targets

PGR has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group lifted their target price on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America upped their price target on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI increased their target price on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $263.19.

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.