Brighton Jones LLC Has $1.13 Million Stock Holdings in The Progressive Corporation $PGR

Brighton Jones LLC boosted its stake in shares of The Progressive Corporation (NYSE:PGR) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,216 shares of the insurance provider’s stock after purchasing an additional 251 shares during the period. Brighton Jones LLC’s holdings in Progressive were worth $1,125,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PGR. Revolve Wealth Partners LLC acquired a new stake in shares of Progressive in the fourth quarter valued at approximately $269,000. Bison Wealth LLC increased its stake in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after acquiring an additional 80 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Progressive by 66.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 197 shares of the insurance provider’s stock worth $56,000 after acquiring an additional 79 shares during the period. Transcend Capital Advisors LLC acquired a new stake in shares of Progressive in the 1st quarter valued at $207,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Progressive by 92.3% in the 1st quarter. Sunbelt Securities Inc. now owns 904 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 434 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PGR has been the topic of a number of research analyst reports. Bank of America raised their target price on Progressive from $350.00 to $351.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Raymond James Financial cut their target price on Progressive from $305.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Morgan Stanley set a $214.00 price objective on Progressive and gave the stock an “underweight” rating in a research report on Monday, October 20th. Evercore ISI lowered their price objective on Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a research report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods decreased their target price on Progressive from $270.00 to $262.00 and set a “market perform” rating for the company in a research report on Thursday, October 16th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $268.90.

Insider Buying and Selling at Progressive

In other Progressive news, insider Lori A. Niederst sold 8,063 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $250.18, for a total transaction of $2,017,201.34. Following the sale, the insider owned 39,040 shares of the company’s stock, valued at $9,767,027.20. The trade was a 17.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $536,977.80. Following the sale, the insider directly owned 43,506 shares in the company, valued at $10,532,802.60. The trade was a 4.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,500 shares of company stock worth $14,430,089. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE PGR opened at $216.29 on Tuesday. The Progressive Corporation has a twelve month low of $216.10 and a twelve month high of $292.99. The stock’s 50 day moving average price is $240.48 and its 200-day moving average price is $255.91. The company has a market capitalization of $126.79 billion, a PE ratio of 11.86, a PEG ratio of 1.26 and a beta of 0.32. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19.

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

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was 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 2.19%.

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.