The Progressive Co. (NYSE:PGR) Stock Holdings Trimmed by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,000 shares of the insurance provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Progressive were worth $8,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PGR. Davis Capital Management acquired a new position in Progressive during the 3rd quarter valued at about $25,000. WR Wealth Planners LLC increased its stake in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 67 shares during the period. Hilltop National Bank increased its stake in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares during the period. Register Financial Advisors LLC acquired a new stake in Progressive in the first quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. lifted its position in Progressive by 114.1% in the third 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. 85.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progressive

In related news, insider Steven Broz sold 2,982 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the sale, the insider now directly 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 document filed with the SEC, which can be accessed through the SEC website. In other 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. The trade was a 0.00 % decrease in their position. 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 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of research reports. Barclays boosted their price objective on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Piper Sandler upped 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. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a research report on Monday, August 12th. Keefe, Bruyette & Woods increased their target price on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America raised their target price on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Stock Performance

Shares of Progressive stock opened at $243.78 on Friday. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a market cap of $142.77 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. The business has a fifty day simple moving average of $250.34 and a 200-day simple moving average of $225.10.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.