OMNI 360 Wealth Inc. Buys 850 Shares of The Progressive Co. (NYSE:PGR)

OMNI 360 Wealth Inc. lifted its stake in The Progressive Co. (NYSE:PGR) by 27.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,910 shares of the insurance provider’s stock after buying an additional 850 shares during the period. OMNI 360 Wealth Inc.’s holdings in Progressive were worth $992,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 285,070 shares in the last quarter. Capital International Investors lifted its position in Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after purchasing an additional 670,006 shares during the period. Legal & General Group Plc boosted its stake in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after buying an additional 92,212 shares in the last quarter. American Century Companies Inc. increased its holdings in 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 buying an additional 69,709 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Progressive by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after buying an additional 244,541 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In other Progressive news, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. The trade was 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 accessible through the SEC website. In other Progressive news, insider John Jo Murphy sold 9,512 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of Progressive stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now directly owns 473,735 shares in the company, 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 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup decreased their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group increased their target price on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Roth Mkm raised their target price on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

Progressive Trading Down 1.3 %

Shares of Progressive stock traded down $3.09 during trading on Friday, reaching $243.78. 1,594,653 shares of the company were exchanged, compared to its average volume of 2,476,907. 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 Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The firm has a market capitalization of $142.77 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.68 and a beta of 0.35. The business has a 50-day moving average price of $250.50 and a 200-day moving average price of $225.48.

Progressive Announces Dividend

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

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.