Dimensional Fund Advisors LP Purchases 147,864 Shares of The Progressive Corporation $PGR

Dimensional Fund Advisors LP boosted its position in shares of The Progressive Corporation (NYSE:PGR) by 6.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,398,736 shares of the insurance provider’s stock after purchasing an additional 147,864 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Progressive were worth $475,660,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares during the period. Revolve Wealth Partners LLC acquired a new position in Progressive in the fourth quarter valued at about $269,000. Bison Wealth LLC grew its stake in Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 80 shares during the period. HUB Investment Partners LLC increased its holdings in shares of Progressive by 7.8% in the second quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock worth $609,000 after acquiring an additional 166 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its position in shares of Progressive by 12.0% during the second quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock worth $3,681,000 after purchasing an additional 1,622 shares during the period. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $250.00 price objective on shares of Progressive in a report on Tuesday, July 14th. William Blair reissued a “market perform” rating on shares of Progressive in a research note on Wednesday, July 15th. Royal Bank Of Canada set a $208.00 target price on shares of Progressive in a report on Friday, May 22nd. BMO Capital Markets cut their price target on shares of Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, July 16th. Finally, Bank of America lowered their price objective on shares of Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $235.05.

Insider Activity

In other Progressive news, insider John Jo Murphy sold 5,916 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the transaction, the insider directly owned 41,290 shares in the company, valued at $8,258,000. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the transaction, the insider directly owned 27,511 shares in the company, valued at $5,633,152.36. This trade represents a 4.04% decrease in their position. 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. Insiders sold 15,230 shares of company stock worth $3,165,817 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Progressive Stock Up 2.0%

Progressive stock opened at $212.09 on Tuesday. The company has a market cap of $123.93 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 4.86 and a beta of 0.26. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $254.93. The company has a fifty day simple moving average of $209.08 and a 200 day simple moving average of $206.22. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were issued a $0.10 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.01%.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.