Shepherd Financial Partners LLC Purchases 529 Shares of The Progressive Co. (NYSE:PGR)

Shepherd Financial Partners LLC lifted its stake in The Progressive Co. (NYSE:PGR) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,159 shares of the insurance provider’s stock after buying an additional 529 shares during the quarter. Progressive comprises 0.6% of Shepherd Financial Partners LLC’s portfolio, making the stock its 28th biggest holding. Shepherd Financial Partners LLC’s holdings in Progressive were worth $5,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PGR. Norden Group LLC bought a new position in shares of Progressive in the first quarter worth about $987,000. Private Advisor Group LLC grew its position in shares of Progressive by 7.4% during the first quarter. Private Advisor Group LLC now owns 10,610 shares of the insurance provider’s stock worth $2,194,000 after purchasing an additional 727 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Progressive by 18.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,671 shares of the insurance provider’s stock worth $35,505,000 after purchasing an additional 26,202 shares in the last quarter. Precision Wealth Strategies LLC purchased a new position in Progressive during the 1st quarter valued at approximately $424,000. Finally, Kinsale Capital Group Inc. grew its holdings in Progressive by 19.5% during the 1st quarter. Kinsale Capital Group Inc. now owns 25,632 shares of the insurance provider’s stock valued at $5,301,000 after buying an additional 4,181 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PGR shares. Wells Fargo & Company raised their price target on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. BMO Capital Markets dropped their target price on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Roth Mkm lifted their target price on Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, September 16th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a report on Monday, August 12th. Finally, StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $263.19.

Insider Activity

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at $119,475,967. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Jo Murphy sold 9,512 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 45,787 shares in the company, valued at $10,874,412.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

Progressive Stock Up 0.9 %

NYSE:PGR traded up $2.20 during mid-day trading on Friday, hitting $245.03. 1,268,739 shares of the company’s stock traded hands, compared to its average volume of 2,460,658. The company has a fifty day moving average of $250.85 and a 200 day moving average of $226.41. 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 company has a market capitalization of $143.51 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.67 and a beta of 0.35. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio is presently 2.91%.

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.