GHP Investment Advisors Inc. lifted its position in Progressive Corp (NYSE:PGR) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,116 shares of the insurance provider’s stock after acquiring an additional 781 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Progressive were worth $3,446,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. Weatherly Asset Management L. P. lifted its position in shares of Progressive by 3.1% in the 2nd quarter. Weatherly Asset Management L. P. now owns 4,361 shares of the insurance provider’s stock valued at $349,000 after acquiring an additional 131 shares in the last quarter. Archford Capital Strategies LLC lifted its position in shares of Progressive by 49.5% in the 2nd quarter. Archford Capital Strategies LLC now owns 408 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 135 shares in the last quarter. Creative Planning increased its stake in Progressive by 0.8% in the 1st quarter. Creative Planning now owns 16,896 shares of the insurance provider’s stock valued at $1,218,000 after buying an additional 137 shares during the period. JLB & Associates Inc. increased its stake in Progressive by 2.0% in the 1st quarter. JLB & Associates Inc. now owns 6,970 shares of the insurance provider’s stock valued at $502,000 after buying an additional 140 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in Progressive by 5.4% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,740 shares of the insurance provider’s stock valued at $219,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.
In other news, insider Steven Broz sold 3,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $81.49, for a total transaction of $244,470.00. Following the transaction, the insider now owns 15,701 shares in the company, valued at approximately $1,279,474.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael D. Sieger sold 7,500 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $79.16, for a total transaction of $593,700.00. Following the transaction, the insider now owns 68,969 shares in the company, valued at approximately $5,459,586.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,500 shares of company stock worth $2,791,050. 0.39% of the stock is currently owned by company insiders.
Shares of PGR traded up $0.45 during mid-day trading on Friday, hitting $77.49. 1,889,100 shares of the company’s stock were exchanged, compared to its average volume of 2,572,583. The firm has a fifty day moving average of $81.13 and a two-hundred day moving average of $76.47. Progressive Corp has a twelve month low of $56.71 and a twelve month high of $84.96. The stock has a market cap of $44.19 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.92 and a beta of 0.66. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34.
Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, July 17th. The insurance provider reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.23. Progressive had a net margin of 9.19% and a return on equity of 28.12%. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.13 billion. During the same quarter in the prior year, the business posted $1.19 EPS. Progressive’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that Progressive Corp will post 5.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, October 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. Progressive’s dividend payout ratio (DPR) is 9.05%.
Several research analysts have weighed in on PGR shares. UBS Group upped their price objective on shares of Progressive from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays upped their price objective on shares of Progressive from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. ValuEngine lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Buckingham Research set a $64.00 price objective on shares of Progressive and gave the company a “hold” rating in a research note on Monday, May 13th. Finally, Janney Montgomery Scott started coverage on shares of Progressive in a research note on Thursday, June 20th. They issued a “neutral” rating and a $59.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $82.92.
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
Read More: What is the Beige Book?
Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progressive Corp (NYSE:PGR).
Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.