The Progressive Co. (NYSE:PGR) Position Decreased by Chicago Capital LLC

Chicago Capital LLC lowered its holdings in The Progressive Co. (NYSE:PGR) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 405,691 shares of the insurance provider’s stock after selling 902 shares during the period. Progressive accounts for 2.9% of Chicago Capital LLC’s investment portfolio, making the stock its 7th biggest position. Chicago Capital LLC owned about 0.07% of Progressive worth $102,948,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 purchasing an additional 285,070 shares during the period. Capital International Investors raised its position in shares of Progressive by 15.7% in the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock worth $1,018,592,000 after buying an additional 670,006 shares during the period. Legal & General Group Plc boosted its holdings in Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after acquiring an additional 92,212 shares during the last quarter. American Century Companies Inc. grew its position in Progressive by 3.0% during the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after acquiring an additional 69,709 shares during the period. Finally, TD Asset Management Inc increased its stake in Progressive by 16.8% during the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock worth $351,289,000 after acquiring an additional 244,541 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PGR shares. Wells Fargo & Company boosted their target price on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Evercore ISI boosted their price objective on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays assumed coverage on shares of Progressive in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $268.81.

Insider Transactions at Progressive

In other Progressive news, insider Andrew J. Quigg sold 3,975 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $850,689.75. Following the sale, the insider now owns 32,780 shares in the company, valued at $7,015,247.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Progressive news, insider Andrew J. Quigg sold 3,975 shares of Progressive stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total value of $850,689.75. Following the completion of the transaction, the insider now owns 32,780 shares of the company’s stock, valued at $7,015,247.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 22,708 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $4,859,739.08. Following the sale, the chief financial officer now directly owns 302,958 shares in the company, valued at $64,836,041.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,383 shares of company stock valued at $33,446,453. Insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.1 %

Shares of NYSE:PGR opened at $251.12 on Friday. The firm has a market cap of $147.07 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 0.70 and a beta of 0.35. The company has a fifty day simple moving average of $248.81 and a 200 day simple moving average of $224.14. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 3.42%.

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.