The Progressive Corporation $PGR Stock Holdings Boosted by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC boosted its position in The Progressive Corporation (NYSE:PGR) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,793 shares of the insurance provider’s stock after purchasing an additional 114 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Progressive were worth $2,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGR. Vanguard Group Inc. boosted its position in shares of Progressive by 1.2% during the first quarter. Vanguard Group Inc. now owns 54,022,956 shares of the insurance provider’s stock worth $15,289,037,000 after buying an additional 622,590 shares during the period. GQG Partners LLC raised its stake in Progressive by 61.4% during the 1st quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock valued at $2,362,039,000 after acquiring an additional 3,174,632 shares in the last quarter. Alliancebernstein L.P. boosted its position in Progressive by 15.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider’s stock worth $2,338,556,000 after acquiring an additional 1,091,828 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Progressive by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,380,134 shares of the insurance provider’s stock worth $1,805,642,000 after acquiring an additional 396,567 shares during the period. Finally, Nuveen LLC bought a new position in shares of Progressive in the first quarter worth $1,473,180,000. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PGR shares. Raymond James Financial reduced their price objective on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday. Evercore ISI reduced their price target on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Morgan Stanley lowered their price objective on shares of Progressive from $267.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Monday, September 22nd. Keefe, Bruyette & Woods cut 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. Finally, Wells Fargo & Company decreased their price target on Progressive from $266.00 to $246.00 and set an “equal weight” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $274.46.

Progressive Trading Up 1.7%

Progressive stock opened at $225.57 on Friday. The firm has a market cap of $132.23 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.26 and a beta of 0.32. The Progressive Corporation has a 1 year low of $217.20 and a 1 year high of $292.99. The firm’s 50 day moving average price is $243.73 and its two-hundred day moving average price is $257.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate of $5.04 by ($0.59). The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period in the prior year, the business earned $3.58 earnings per share. On average, research analysts predict that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed 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. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, October 2nd. Progressive’s payout ratio is presently 2.19%.

Insider Activity at Progressive

In related news, insider John Jo Murphy sold 2,218 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $242.10, for a total value of $536,977.80. Following the completion of the sale, the insider owned 43,506 shares in the company, valued at approximately $10,532,802.60. This represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the completion of the transaction, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. This represents a 29.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,778 shares of company stock valued at $31,683,756. Corporate insiders own 0.34% of the company’s stock.

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.