Silver Oak Securities Incorporated Increases Position in The Progressive Co. (NYSE:PGR)

Silver Oak Securities Incorporated raised its holdings in shares of The Progressive Co. (NYSE:PGR) by 299.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,924 shares of the insurance provider’s stock after buying an additional 3,692 shares during the period. Silver Oak Securities Incorporated’s holdings in Progressive were worth $1,236,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Davis Capital Management purchased a new position in shares of Progressive during the third quarter valued at approximately $25,000. WR Wealth Planners LLC boosted its holdings in shares of Progressive by 119.6% in the second 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 during the period. Hilltop National Bank boosted its holdings 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 purchasing an additional 92 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of Progressive in the first quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares of the company’s stock, valued at $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Progressive news, insider Steven Broz sold 2,982 shares of the company’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 sale, the insider now directly owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 13,723 shares in the company, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock valued at $18,674,912 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

NYSE PGR opened at $243.78 on Friday. 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 stock’s fifty day moving average price is $250.34 and its 200 day moving average price is $225.10. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $260.46. The company has a market cap of $142.77 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.68 and a beta of 0.35.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s payout ratio is 2.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PGR. Evercore ISI boosted their price target on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a report on Thursday. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a report on Monday, August 12th. JPMorgan Chase & Co. upped their target price on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays upped their target price on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $263.19.

Progressive 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.