Global Retirement Partners LLC Purchases 326 Shares of The Progressive Co. (NYSE:PGR)

Global Retirement Partners LLC grew its position in shares of The Progressive Co. (NYSE:PGR) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,070 shares of the insurance provider’s stock after buying an additional 326 shares during the period. Global Retirement Partners LLC’s holdings in Progressive were worth $779,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Sunbelt Securities Inc. raised its stake in Progressive by 21.3% in the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 46 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Progressive by 11.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 48 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in Progressive by 10.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 48 shares in the last quarter. Graypoint LLC increased its position in Progressive by 1.2% during the 2nd quarter. Graypoint LLC now owns 4,202 shares of the insurance provider’s stock worth $873,000 after purchasing an additional 49 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC lifted its stake in Progressive by 0.3% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 18,556 shares of the insurance provider’s stock valued at $4,709,000 after purchasing an additional 49 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Steven Broz sold 6,122 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the transaction, the insider now owns 32,316 shares in the company, valued at $7,600,400.04. This trade 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 is available through this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 473,735 shares of the company’s stock, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,862 shares of company stock worth $17,926,234 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR opened at $251.12 on Monday. The stock has a 50-day moving average of $248.81 and a 200-day moving average of $224.24. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46. 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 company has a market cap of $147.08 billion, a PE ratio of 25.70, a P/E/G ratio of 0.70 and a beta of 0.35.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were 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 was Thursday, October 3rd. Progressive’s payout ratio is 4.09%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PGR shares. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their target price on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a report on Monday, August 12th. Piper Sandler raised their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and an average price target of $268.81.

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.