ShankerValleau Wealth Advisors Inc. Grows Stock Holdings in The Progressive Co. (NYSE:PGR)

ShankerValleau Wealth Advisors Inc. lifted its stake in shares of The Progressive Co. (NYSE:PGR) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the insurance provider’s stock after acquiring an additional 1,000 shares during the quarter. Progressive makes up approximately 1.3% of ShankerValleau Wealth Advisors Inc.’s holdings, making the stock its 11th biggest holding. ShankerValleau Wealth Advisors Inc.’s holdings in Progressive were worth $3,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aviance Capital Partners LLC purchased a new stake in shares of Progressive in the 1st quarter worth approximately $3,628,000. Brevan Howard Capital Management LP purchased a new stake in Progressive during the fourth quarter worth $3,090,000. Concurrent Investment Advisors LLC increased its holdings in shares of Progressive by 66.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock valued at $1,409,000 after acquiring an additional 2,719 shares during the period. Diversified Trust Co lifted its stake in shares of Progressive by 84.3% during the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after purchasing an additional 11,770 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in Progressive by 90.4% during the first quarter. Banque Cantonale Vaudoise now owns 21,056 shares of the insurance provider’s stock valued at $4,354,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $248.00 on Wednesday. The firm’s fifty day moving average is $242.99 and its two-hundred day moving average is $221.73. The firm has a market cap of $145.25 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 0.71 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The Progressive Co. has a one year low of $141.84 and a one year high of $260.46.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.61. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.54 billion. Progressive had a net margin of 10.17% and a return on equity of 33.01%. The business’s revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. Research analysts expect that The Progressive Co. will post 13.01 EPS for the current year.

Progressive Dividend Announcement

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

Analyst Ratings Changes

Several analysts have commented on PGR shares. Jefferies Financial Group increased their price target on shares of Progressive from $256.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Evercore ISI upped their price target on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barclays assumed coverage on Progressive in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 price objective for the company. Finally, Morgan Stanley upped their target price on Progressive from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.18.

Insider Buying and Selling

In other news, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Andrew J. Quigg sold 3,975 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $214.01, for a total value of $850,689.75. Following the transaction, the insider now directly owns 32,780 shares of the company’s stock, valued at approximately $7,015,247.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,512 shares of company stock valued at $33,912,874. 0.34% of the stock is owned by company insiders.

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.