Simon Quick Advisors LLC Purchases 1,116 Shares of The Progressive Corporation $PGR

Simon Quick Advisors LLC lifted its position in shares of The Progressive Corporation (NYSE:PGR) by 19.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,788 shares of the insurance provider’s stock after purchasing an additional 1,116 shares during the quarter. Simon Quick Advisors LLC’s holdings in Progressive were worth $1,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PGR. Brighton Jones LLC grew its stake in shares of Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after acquiring an additional 457 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Progressive in the 4th quarter worth about $269,000. Bison Wealth LLC raised its position in shares of Progressive by 3.2% in the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Progressive in the 1st quarter worth about $727,000. Finally, DAVENPORT & Co LLC raised its position in shares of Progressive by 16.1% in the 1st quarter. DAVENPORT & Co LLC now owns 5,728 shares of the insurance provider’s stock worth $1,621,000 after purchasing an additional 793 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insider Activity at Progressive

In other Progressive news, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction 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 sale, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. The trade was a 29.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total value of $7,543,953.54. Following the transaction, the chief executive officer directly owned 476,286 shares in the company, valued at $117,194,933.16. The trade was a 6.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,500 shares of company stock worth $14,430,089 over the last quarter. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PGR shares. Wall Street Zen lowered Progressive from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Raymond James Financial lowered their price target on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Bank of America lifted their price target on Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Morgan Stanley set a $214.00 price target on Progressive and gave the company an “underweight” rating in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Progressive in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Progressive currently has an average rating of “Hold” and a consensus target price of $268.90.

Progressive Stock Performance

Shares of PGR opened at $206.71 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $237.97 and a two-hundred day simple moving average of $254.67. The stock has a market cap of $121.18 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.19 and a beta of 0.32. The Progressive Corporation has a 52 week low of $206.41 and a 52 week high of $292.99.

Progressive (NYSE:PGR) last posted its quarterly earnings results 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 business had revenue of $21.38 billion during 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 quarter in the previous year, the company earned $3.58 earnings per share. On average, analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

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