The Progressive Co. (NYSE:PGR) Shares Acquired by Regent Peak Wealth Advisors LLC

Regent Peak Wealth Advisors LLC lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,556 shares of the insurance provider’s stock after buying an additional 49 shares during the quarter. Progressive comprises about 1.1% of Regent Peak Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Regent Peak Wealth Advisors LLC’s holdings in Progressive were worth $4,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its holdings in Progressive by 12.1% in the 4th quarter. Fisher Asset Management LLC now owns 9,920 shares of the insurance provider’s stock valued at $1,580,000 after purchasing an additional 1,067 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in Progressive in the fourth quarter worth $908,000. Kapitalo Investimentos Ltda acquired a new stake in Progressive in the fourth quarter valued at $253,000. Park National Corp OH acquired a new stake in Progressive in the first quarter valued at $207,000. Finally, Moody National Bank Trust Division purchased a new stake in shares of Progressive during the 1st quarter worth $345,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PGR. Piper Sandler increased their price target on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Barclays began coverage on shares of Progressive in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 target price for the company. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods raised their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Bank of America boosted their target price on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday. Six investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.12.

Insider Buying and Selling

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. 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 accessible through this hyperlink. In other Progressive news, insider Andrew J. Quigg sold 3,975 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $850,689.75. Following the completion of the sale, the insider now directly owns 32,780 shares in the company, valued at $7,015,247.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’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 in the company, valued at approximately $3,462,038.44. This trade represents 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 144,383 shares of company stock valued at $33,446,453. Insiders own 0.34% of the company’s stock.

Progressive Trading Up 0.5 %

PGR stock traded up $1.14 during midday trading on Wednesday, hitting $252.74. The stock had a trading volume of 756,166 shares, compared to its average volume of 2,488,746. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46. The firm has a market cap of $148.03 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company’s 50-day moving average price is $246.77 and its 200 day moving average price is $223.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Progressive (NYSE:PGR) last released its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, beating the consensus estimate of $2.04 by $0.61. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The firm had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.54 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, equities research analysts predict that The Progressive Co. will post 13.07 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business 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. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s payout ratio is currently 4.09%.

About Progressive

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.