The Progressive Co. (NYSE:PGR) Shares Purchased by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT grew its stake in shares of The Progressive Co. (NYSE:PGR) by 32.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,629 shares of the insurance provider’s stock after purchasing an additional 1,140 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Progressive were worth $961,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Sachetta LLC acquired a new position in Progressive during the 4th quarter worth approximately $25,000. Northwest Bank & Trust Co acquired a new position in shares of Progressive during the fourth quarter worth $25,000. WR Wealth Planners LLC boosted its stake 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. Indiana Trust & Investment Management CO acquired a new stake in Progressive during the 1st quarter valued at $32,000. Finally, Hilltop National Bank increased its stake in Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Roth Mkm raised their target price on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group raised their price objective on Progressive from $256.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays started coverage on Progressive in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 target price on the stock. Bank of America raised their price target on shares of Progressive from $294.00 to $312.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley upped their price target on shares of Progressive from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. 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. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average target price of $257.18.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 43,371 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the sale, the chief executive officer now owns 517,105 shares of the company’s stock, valued at approximately $110,665,641.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Susan Patricia Griffith sold 43,371 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total value of $9,281,827.71. Following the completion of the sale, the chief executive officer now directly owns 517,105 shares of the company’s stock, valued at approximately $110,665,641.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares in the company, valued at approximately $7,600,400.04. The disclosure for this sale can be found here. Insiders sold 146,704 shares of company stock valued at $33,367,408 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Progressive Trading Down 1.0 %

NYSE:PGR opened at $255.17 on Friday. The firm has a market capitalization of $149.45 billion, a P/E ratio of 26.12, a P/E/G ratio of 0.82 and a beta of 0.35. The business has a 50 day simple moving average of $233.24 and a 200 day simple moving average of $216.58. 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 Progressive Co. has a 12-month low of $137.59 and a 12-month high of $260.46.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.04 by $0.61. The business had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.54 billion. Progressive had a net margin of 10.17% and a return on equity of 33.01%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Equities research analysts predict that The Progressive Co. will post 12.29 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

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.