ROI Financial Advisors LLC Buys New Position in The Progressive Corporation $PGR

ROI Financial Advisors LLC purchased a new position in The Progressive Corporation (NYSE:PGR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 775 shares of the insurance provider’s stock, valued at approximately $207,000.

Several other large investors also recently made changes to their positions in the business. TruNorth Capital Management LLC lifted its stake in Progressive by 210.0% during the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Progressive in the first quarter valued at $35,000. Activest Wealth Management increased its holdings in shares of Progressive by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after buying an additional 127 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 117 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of Progressive during the 1st quarter worth $39,000. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR opened at $209.14 on Thursday. The company has a market capitalization of $122.60 billion, a PE ratio of 11.47, a PEG ratio of 1.19 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The company’s 50 day moving average price is $234.86 and its 200 day moving average price is $252.72. The Progressive Corporation has a 52 week low of $199.90 and a 52 week high of $292.99.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same period last year, the business earned $3.58 EPS. Research analysts expect that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, October 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, October 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio is 2.19%.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of recent research reports. Evercore ISI decreased their target price on Progressive from $275.00 to $273.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Wolfe Research began coverage on Progressive in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. Wall Street Zen cut Progressive from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. The Goldman Sachs Group reduced their price objective on shares of Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Finally, Bank of America raised their target price on shares of Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $267.96.

Insider Buying and Selling at Progressive

In other Progressive news, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.10, for a total transaction of $325,624.50. Following the transaction, the insider directly owned 30,388 shares in the company, valued at $7,356,934.80. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the completion of the sale, 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 is available in the SEC filing. Insiders have sold 58,500 shares of company stock worth $14,430,089 in the last ninety days. 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.