1,002 Shares in The Progressive Corporation $PGR Purchased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC acquired a new position in The Progressive Corporation (NYSE:PGR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,002 shares of the insurance provider’s stock, valued at approximately $267,000.

Other large investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC increased its holdings in Progressive by 114.0% in the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 49 shares during the last quarter. TruNorth Capital Management LLC boosted its stake in Progressive by 210.0% in the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 63 shares during the period. HWG Holdings LP bought a new position in Progressive in the 1st quarter worth about $28,000. Garde Capital Inc. bought a new position in Progressive in the 1st quarter worth about $33,000. Finally, Ransom Advisory Ltd bought a new position in Progressive in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

PGR has been the subject of several analyst reports. Cantor Fitzgerald upgraded Progressive to a “hold” rating in a research note on Wednesday, August 13th. Wolfe Research initiated coverage on Progressive in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Keefe, Bruyette & Woods raised their target price on Progressive from $268.00 to $270.00 and gave the stock a “market perform” rating in a research note on Thursday, September 18th. Wells Fargo & Company raised their target price on Progressive from $265.00 to $266.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Barclays set a $271.00 target price on Progressive in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $279.63.

Insider Buying and Selling

In related news, insider Lori A. Niederst sold 8,063 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $250.18, for a total value of $2,017,201.34. Following the completion of the sale, the insider owned 39,040 shares in the company, valued at $9,767,027.20. The trade was a 17.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.10, for a total value of $325,624.50. Following the completion of the sale, the insider owned 30,388 shares of the company’s stock, valued at $7,356,934.80. The trade was a 4.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,045 shares of company stock worth $31,997,390 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR opened at $241.90 on Friday. The company has a market cap of $141.80 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.35 and a beta of 0.32. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $245.21 and a 200-day moving average price of $259.98. The Progressive Corporation has a 12-month low of $228.54 and a 12-month high of $292.99.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.45. The firm had revenue of $20.08 billion during the quarter, compared to the consensus estimate of $20.39 billion. Progressive had a return on equity of 35.37% and a net margin of 12.66%.The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.48 EPS. As a group, equities analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Thursday, October 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s payout ratio is presently 2.25%.

Progressive 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.