Sky Investment Group LLC Sells 400 Shares of The Progressive Co. (NYSE:PGR)

Sky Investment Group LLC trimmed its position in The Progressive Co. (NYSE:PGR) by 12.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,820 shares of the insurance provider’s stock after selling 400 shares during the period. Sky Investment Group LLC’s holdings in Progressive were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PGR. Vanguard Group Inc. grew its stake in Progressive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after buying an additional 285,070 shares during the last quarter. Capital International Investors grew its stake in shares of Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after acquiring an additional 670,006 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after acquiring an additional 92,212 shares in the last quarter. American Century Companies Inc. raised its position in shares of Progressive by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Progressive by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock worth $351,289,000 after purchasing an additional 244,541 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Progressive

In other news, insider Steven Broz sold 2,982 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the completion of the sale, the insider now owns 29,334 shares in the company, valued at approximately $7,626,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Progressive news, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now owns 29,334 shares in the company, valued at $7,626,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction dated Friday, September 27th. The shares were 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 directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,862 shares of company stock worth $17,926,234. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on PGR shares. Roth Mkm upped their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Citigroup reduced their price target on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company upped their target price on shares of Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.81.

Progressive Trading Down 1.7 %

PGR stock traded down $4.38 during trading on Tuesday, reaching $246.36. 293,019 shares of the stock traded hands, compared to its average volume of 2,486,618. The firm has a market capitalization of $144.29 billion, a PE ratio of 25.46, a P/E/G ratio of 0.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50 day moving average price is $249.36 and its 200-day moving average price is $224.53. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $260.46.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s dividend payout ratio is presently 4.09%.

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.