Aurora Investment Counsel Makes New $2.33 Million Investment in The Progressive Corporation $PGR

Aurora Investment Counsel acquired a new stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,649 shares of the insurance provider's stock, valued at approximately $2,326,000. Progressive comprises 1.2% of Aurora Investment Counsel's holdings, making the stock its 26th largest position.

A number of other large investors also recently bought and sold shares of the stock. Bogart Wealth LLC grew its position in shares of Progressive by 235.1% in the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 87 shares during the period. IMG Wealth Management Inc. acquired a new position in shares of Progressive during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in Progressive in the 2nd quarter valued at about $26,000. Bard Associates Inc. acquired a new stake in Progressive in the 4th quarter worth about $27,000. Finally, HHM Wealth Advisors LLC increased its stake in Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider's stock worth $29,000 after buying an additional 126 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In related news, CEO Susan Patricia Griffith sold 37,338 shares of Progressive stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $212.71, for a total value of $7,942,165.98. Following the completion of the sale, the chief executive officer owned 522,776 shares in the company, valued at approximately $111,199,682.96. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lori A. Niederst sold 7,339 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were 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 approximately $8,908,847.43. The trade was a 14.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 82,224 shares of company stock valued at $17,416,438. 0.32% of the stock is currently owned by company insiders.

Progressive Stock Performance

Shares of Progressive stock opened at $217.28 on Thursday. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93. The business's fifty day simple moving average is $214.84 and its 200-day simple moving average is $206.46. The firm has a market cap of $126.32 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 2.80 and a beta of 0.27. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.64 by $1.03. The firm had revenue of $23.61 billion during the quarter, compared to the consensus estimate of $19.49 billion. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $5.40 EPS. Equities analysts forecast that The Progressive Corporation will post 17.47 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive's dividend payout ratio (DPR) is currently 2.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Progressive from $220.00 to $230.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. decreased their price objective on Progressive from $250.00 to $241.00 and set a "neutral" rating on the stock in a report on Tuesday, August 4th. Keefe, Bruyette & Woods lowered their target price on shares of Progressive from $231.00 to $226.00 and set a "market perform" rating on the stock in a research note on Thursday, July 16th. Royal Bank Of Canada set a $208.00 target price on shares of Progressive in a report on Friday, May 22nd. Finally, Morgan Stanley raised shares of Progressive from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $190.00 to $210.00 in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Progressive currently has an average rating of "Hold" and an average price target of $234.11.

Progressive Profile

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.

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