IRON Financial LLC Purchases Shares of 3,307 The Progressive Co. (NYSE:PGR)

IRON Financial LLC acquired a new position in The Progressive Co. (NYSE:PGR) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,307 shares of the insurance provider’s stock, valued at approximately $839,000.

Other institutional investors have also recently made changes to their positions in the company. Davis Capital Management bought a new stake in shares of Progressive in the third quarter worth about $25,000. WR Wealth Planners LLC raised its holdings in shares of Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its holdings in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares in the last quarter. Hilltop National Bank increased its position in Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Progressive during the first quarter valued at $36,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PGR shares. Piper Sandler lifted their price objective on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price objective on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a report on Monday, August 12th. Finally, Jefferies Financial Group raised their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.19.

Progressive Trading Up 0.8 %

Shares of Progressive stock traded up $1.99 on Thursday, hitting $244.99. 898,260 shares of the company traded hands, compared to its average volume of 2,454,851. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46. The company has a market cap of $143.48 billion, a PE ratio of 17.75, a PEG ratio of 0.67 and a beta of 0.35. The stock’s 50 day moving average price is $250.80 and its 200-day moving average price is $226.29. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive Dividend Announcement

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

Insider Transactions at Progressive

In related news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This 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 through the SEC website. In related news, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares of the company’s stock, valued at $6,618,555.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 43,370 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 473,735 shares in the company, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. 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 currently owned by corporate insiders.

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.