Silver Oak Securities Incorporated Increases Stake in The Progressive Corporation (NYSE:PGR)

Silver Oak Securities Incorporated raised its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,877 shares of the insurance provider's stock after acquiring an additional 1,062 shares during the quarter. Silver Oak Securities Incorporated's holdings in Progressive were worth $1,360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PGR. Highline Wealth Partners LLC boosted its position in shares of Progressive by 114.0% during the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of Progressive during the 4th quarter worth about $28,000. HWG Holdings LP bought a new position in Progressive in the 1st quarter valued at about $28,000. Atala Financial Inc bought a new position in Progressive in the 4th quarter valued at about $32,000. Finally, Garde Capital Inc. bought a new position in Progressive in the 1st quarter valued at about $33,000. Institutional investors own 85.34% of the company's stock.

Insider Transactions at Progressive

In other Progressive news, insider Steven Broz sold 1,267 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.38, for a total value of $329,901.46. Following the transaction, the insider owned 27,621 shares in the company, valued at approximately $7,191,955.98. The trade was a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stuart B. Burgdoerfer sold 3,681 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.43, for a total transaction of $958,642.83. Following the completion of the transaction, the director owned 12,217 shares in the company, valued at $3,181,673.31. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,705 shares of company stock valued at $11,450,948. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PGR. Wells Fargo & Company raised their price target on shares of Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Wall Street Zen upgraded shares of Progressive from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. JPMorgan Chase & Co. raised their price objective on shares of Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. 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 report on Thursday, April 17th. Finally, Jefferies Financial Group cut their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $285.94.

Progressive Trading Down 0.8%

NYSE:PGR traded down $2.15 during trading hours on Tuesday, reaching $251.39. The company's stock had a trading volume of 4,960,466 shares, compared to its average volume of 2,798,132. The firm has a market capitalization of $147.37 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.56 and a beta of 0.37. The firm has a 50-day simple moving average of $273.46 and a 200-day simple moving average of $265.61. The Progressive Corporation has a 1 year low of $207.50 and a 1 year 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 issued its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. The company had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a net margin of 11.10% and a return on equity of 33.50%. Research analysts expect that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, July 4th will be given a $0.10 dividend. This represents a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, July 3rd. Progressive's 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.