Dakota Wealth Management Raises Stock Holdings in The Progressive Co. (NYSE:PGR)

Dakota Wealth Management lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,496 shares of the insurance provider’s stock after purchasing an additional 11,321 shares during the quarter. Progressive accounts for approximately 0.7% of Dakota Wealth Management’s portfolio, making the stock its 27th largest position. Dakota Wealth Management’s holdings in Progressive were worth $31,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PGR. Vanguard Group Inc. boosted its stake in Progressive by 0.6% in the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after buying 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 valued at $1,018,592,000 after purchasing an additional 670,006 shares during the last quarter. Legal & General Group Plc lifted its position in Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares during the last quarter. American Century Companies Inc. lifted its position in Progressive by 3.0% in the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Progressive by 16.8% during the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after acquiring an additional 244,541 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price objective on Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Roth Mkm increased their target price on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $263.19.

Progressive Stock Down 0.2 %

NYSE PGR opened at $246.87 on Friday. The stock’s 50-day moving average price is $250.14 and its 200-day moving average price is $224.95. The company has a market capitalization of $144.58 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive Dividend Announcement

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

Insider Activity at Progressive

In related news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the sale, the insider now owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Progressive news, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the completion of the sale, the insider now directly owns 32,316 shares of the company’s stock, valued at $7,600,400.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Jo Murphy sold 9,512 shares of the business’s stock in a transaction on 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is owned by company insiders.

About Progressive

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.