The Progressive Corporation $PGR Stock Position Increased by Vise Technologies Inc.

Vise Technologies Inc. raised its stake in shares of The Progressive Corporation (NYSE:PGR) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,590 shares of the insurance provider’s stock after purchasing an additional 4,823 shares during the period. Vise Technologies Inc.’s holdings in Progressive were worth $6,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia purchased a new position in shares of Progressive in the second quarter valued at $76,260,000. State Street Corp increased its position in Progressive by 2.5% in the second quarter. State Street Corp now owns 26,526,959 shares of the insurance provider’s stock worth $5,794,814,000 after purchasing an additional 656,249 shares during the last quarter. Callan Family Office LLC bought a new stake in Progressive in the second quarter worth $3,025,000. QRG Capital Management Inc. increased its position in Progressive by 19.2% in the second quarter. QRG Capital Management Inc. now owns 86,011 shares of the insurance provider’s stock worth $18,789,000 after purchasing an additional 13,850 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its position in Progressive by 21.3% in the second quarter. Ipswich Investment Management Co. Inc. now owns 39,008 shares of the insurance provider’s stock worth $8,521,000 after purchasing an additional 6,844 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, insider Lori Niederst sold 7,339 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $209.29, for a total value of $1,535,979.31. Following the completion of the sale, the insider directly owned 42,567 shares in the company, valued at $8,908,847.43. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,225 shares of Progressive stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $223.32, for a total transaction of $273,567.00. Following the transaction, the insider directly owned 28,807 shares of the company’s stock, valued at $6,433,179.24. The trade was a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 48,352 shares of company stock worth $10,524,258. Company insiders own 0.32% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $234.36 on Tuesday. The firm has a market capitalization of $136.25 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.61 and a beta of 0.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.29. The business has a 50 day simple moving average of $217.94 and a 200-day simple moving average of $209.43. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $239.38.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, October 1st. Progressive’s dividend payout ratio is presently 2.01%.

Analyst Ratings Changes

A number of research firms recently issued reports on PGR. Mizuho decreased their price target on shares of Progressive from $236.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 16th. Piper Sandler lifted their price objective on shares of Progressive from $241.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Raymond James Financial reissued an “outperform” rating on shares of Progressive in a research note on Friday, October 16th. BMO Capital Markets restated a “market perform” rating on shares of Progressive in a report on Thursday, October 15th. Finally, Weiss Ratings upgraded shares of Progressive from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $234.45.

About Progressive

Progressive Corporation is an insurance holding company headquartered in Mayfield Village, Ohio. Founded in 1937, the company provides insurance products primarily to consumers and businesses in the United States. Progressive distributes its products directly through its website, mobile channels and call centers, as well as through independent agents and brokers.

The company is best known for personal auto insurance, including coverage for cars, motorcycles, boats, recreational vehicles and other personal vehicles.