Dakota Wealth Management Purchases 1,388 Shares of The Progressive Corporation (NYSE:PGR)

Dakota Wealth Management grew its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,658 shares of the insurance provider's stock after acquiring an additional 1,388 shares during the period. Progressive accounts for approximately 0.8% of Dakota Wealth Management's holdings, making the stock its 21st largest position. Dakota Wealth Management's holdings in Progressive were worth $36,128,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Highline Wealth Partners LLC raised its position in shares of Progressive by 114.0% in the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 49 shares during the period. TruNorth Capital Management LLC raised its position in shares of Progressive by 210.0% in 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 period. Minot DeBlois Advisors LLC bought a new position in shares of Progressive in the fourth quarter valued at approximately $28,000. HWG Holdings LP acquired a new stake in shares of Progressive in the first quarter worth $28,000. Finally, Atala Financial Inc acquired a new stake in shares of Progressive in the fourth quarter worth $32,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Progressive from $290.00 to $268.00 and set a "market perform" rating on the stock in a research note on Thursday. BMO Capital Markets raised their price objective on shares of Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Morgan Stanley lowered their price objective on shares of Progressive from $290.00 to $280.00 and set an "equal weight" rating on the stock in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, Evercore ISI downgraded shares of Progressive from an "outperform" rating to an "in-line" rating and set a $275.00 price target on the stock. in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $284.35.

Insiders Place Their Bets

In other Progressive news, Director Stuart B. Burgdoerfer sold 3,681 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.43, for a total transaction of $958,642.83. Following the completion of the sale, the director directly owned 12,217 shares of the company's stock, valued at approximately $3,181,673.31. The trade was a 23.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,267 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $329,901.46. Following the sale, the insider directly owned 27,621 shares of the company's stock, valued at $7,191,955.98. This represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,705 shares of company stock valued at $11,450,948 over the last three months. Company insiders own 0.34% of the company's stock.

Progressive Price Performance

Shares of NYSE PGR traded down $1.74 during midday trading on Thursday, reaching $244.73. 2,334,370 shares of the company traded hands, compared to its average volume of 2,839,473. The firm has a market cap of $143.46 billion, a PE ratio of 16.51, a PEG ratio of 1.51 and a beta of 0.37. The stock's 50-day simple moving average is $269.17 and its 200-day simple moving average is $265.63. The Progressive Corporation has a 12 month low of $208.13 and a 12 month high of $292.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $0.45. Progressive had a return on equity of 33.50% and a net margin of 11.10%. The business had revenue of $20.08 billion during the quarter, compared to analysts' expectations of $20.39 billion. During the same period in the previous year, the business posted $2.48 earnings per share. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, July 11th. Investors of record on Friday, July 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a dividend yield of 0.15%. Progressive's dividend payout ratio is 2.70%.

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.