The Progressive Co. (NYSE:PGR) Shares Bought by Cavalier Investments LLC

Cavalier Investments LLC lifted its position in The Progressive Co. (NYSE:PGR) by 6.7% in the third quarter, HoldingsChannel reports. The firm owned 16,570 shares of the insurance provider’s stock after buying an additional 1,035 shares during the period. Progressive makes up about 1.3% of Cavalier Investments LLC’s portfolio, making the stock its 20th biggest holding. Cavalier Investments LLC’s holdings in Progressive were worth $4,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Progressive by 0.6% during the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after buying an additional 285,070 shares during the period. Capital International Investors lifted its position in shares of Progressive by 15.7% during the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after purchasing an additional 670,006 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Progressive by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after buying an additional 92,212 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Progressive by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Progressive by 16.8% in the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after acquiring an additional 244,541 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the subject of a number of research analyst reports. Citigroup dropped their price target on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. HSBC raised shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their target price on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bank of America lifted their target price on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.19.

Progressive Trading Down 1.3 %

NYSE:PGR opened at $243.78 on Monday. The firm has a market cap of $142.77 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. The firm has a 50-day moving average price of $250.50 and a two-hundred day moving average price of $225.61. 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 Progressive Co. has a 52 week low of $149.14 and a 52 week high of $260.46.

Progressive Announces Dividend

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

Insider Buying and Selling at Progressive

In other news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $119,475,967. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 in the last quarter. Company insiders own 0.34% of the company’s stock.

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.