Rowlandmiller & PARTNERS.ADV Sells 223 Shares of The Progressive Co. (NYSE:PGR)

Rowlandmiller & PARTNERS.ADV trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,999 shares of the insurance provider’s stock after selling 223 shares during the quarter. Progressive comprises 6.2% of Rowlandmiller & PARTNERS.ADV’s portfolio, making the stock its 2nd biggest holding. Rowlandmiller & PARTNERS.ADV’s holdings in Progressive were worth $30,451,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aviance Capital Partners LLC acquired a new stake in shares of Progressive in the first quarter valued at about $3,628,000. Concurrent Investment Advisors LLC lifted its stake in shares of Progressive by 66.4% in the first quarter. Concurrent Investment Advisors LLC now owns 6,814 shares of the insurance provider’s stock valued at $1,409,000 after buying an additional 2,719 shares during the period. Diversified Trust Co lifted its stake in shares of Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after buying an additional 11,770 shares during the period. Councilmark Asset Management LLC bought a new stake in shares of Progressive in the first quarter valued at about $1,890,000. Finally, Sycomore Asset Management lifted its stake in Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after purchasing an additional 2,450 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Trading Down 0.2 %

Shares of NYSE:PGR opened at $246.87 on Friday. The company’s 50-day moving average price is $250.14 and its two-hundred day moving average price is $224.95. 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 Progressive Co. has a one year low of $149.14 and a one year high of $260.46. The stock has a market capitalization of $144.58 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35.

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 paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio is presently 2.91%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PGR. JPMorgan Chase & Co. lifted their target price on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler raised their price target on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Barclays lifted their target price on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Insider Buying and Selling at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the 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 in the company, valued at approximately $119,475,967. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This 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 can be accessed through this link. Also, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at $10,874,412.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,843 shares of company stock worth $18,674,912 over the last 90 days. Company insiders own 0.34% of the company’s stock.

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.