The Progressive Corporation $PGR Holdings Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its holdings in The Progressive Corporation (NYSE:PGR) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,447 shares of the insurance provider’s stock after purchasing an additional 9,112 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Progressive were worth $46,019,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PGR. Resonant Capital Advisors LLC lifted its stake in Progressive by 1.9% in the 2nd quarter. Resonant Capital Advisors LLC now owns 25,699 shares of the insurance provider’s stock worth $6,858,000 after acquiring an additional 491 shares in the last quarter. Hixon Zuercher LLC lifted its stake in shares of Progressive by 34.6% in the second quarter. Hixon Zuercher LLC now owns 10,905 shares of the insurance provider’s stock valued at $2,910,000 after buying an additional 2,803 shares during the period. Wealthfront Advisers LLC grew its position in Progressive by 0.5% during the second quarter. Wealthfront Advisers LLC now owns 84,069 shares of the insurance provider’s stock worth $22,435,000 after buying an additional 415 shares in the last quarter. New Hampshire Trust lifted its position in shares of Progressive by 9.1% in the 2nd quarter. New Hampshire Trust now owns 1,382 shares of the insurance provider’s stock worth $369,000 after acquiring an additional 115 shares during the period. Finally, Interchange Capital Partners LLC increased its position in shares of Progressive by 5.5% during the second quarter. Interchange Capital Partners LLC now owns 2,219 shares of the insurance provider’s stock valued at $592,000 after purchasing an additional 116 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Insider Activity at Progressive

In other Progressive news, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the completion of the sale, the insider directly owned 15,192 shares in the company, valued at approximately $3,679,806.24. The trade was a 29.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 30,659 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the sale, the chief executive officer owned 476,286 shares of the company’s stock, valued at $117,194,933.16. This trade represents a 6.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,778 shares of company stock worth $31,683,756 in the last ninety days. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PGR. Zacks Research lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Cantor Fitzgerald raised shares of Progressive to a “hold” rating in a report on Wednesday, August 13th. UBS Group dropped their target price on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on shares of Progressive in a research note on Monday, September 15th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley set a $214.00 price objective on shares of Progressive and gave the stock an “underweight” rating in a research report on Monday, October 20th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $270.40.

Progressive Trading Down 0.8%

Shares of NYSE:PGR opened at $218.93 on Friday. The stock has a market capitalization of $128.34 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.26 and a beta of 0.32. The company’s 50-day moving average price is $241.10 and its two-hundred day moving average price is $256.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The Progressive Corporation has a one year low of $217.20 and a one year high of $292.99.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. During the same quarter last year, the business posted $3.58 EPS. On average, equities analysts forecast that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, October 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, October 2nd. Progressive’s payout ratio is presently 2.19%.

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.