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Silver Oak Securities Incorporated Has $1.36 Million Stock Holdings in The Progressive Corporation (NYSE:PGR)

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Silver Oak Securities Incorporated increased its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 27.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC raised its stake in Progressive by 114.0% during the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after purchasing an additional 49 shares during the period. HWG Holdings LP purchased a new position in Progressive during the first quarter worth approximately $28,000. Minot DeBlois Advisors LLC purchased a new position in Progressive during the fourth quarter worth approximately $28,000. Garde Capital Inc. purchased a new position in Progressive during the first quarter worth approximately $33,000. Finally, Atala Financial Inc purchased a new position in Progressive during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Price Performance

NYSE:PGR traded up $2.50 during mid-day trading on Friday, reaching $260.30. 2,685,585 shares of the company were exchanged, compared to its average volume of 2,780,105. The Progressive Corporation has a 12 month low of $207.50 and a 12 month high of $292.99. The company has a fifty day moving average of $274.28 and a 200 day moving average of $265.44. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The stock has a market cap of $152.59 billion, a PE ratio of 17.55, a PEG ratio of 1.61 and a beta of 0.37.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The firm had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. On average, research analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, July 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a yield of 0.15%. Progressive's payout ratio is presently 2.70%.

Insider Activity at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $275.37, for a total transaction of $2,753,700.00. Following the transaction, the chief financial officer directly owned 238,024 shares in the company, valued at approximately $65,544,668.88. This represents a 4.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Jo Murphy sold 4,000 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.38, for a total transaction of $1,041,520.00. Following the transaction, the insider owned 41,289 shares in the company, valued at approximately $10,750,829.82. The trade was a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,705 shares of company stock worth $11,450,948. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PGR. Barclays increased their price target on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. UBS Group raised their target price on shares of Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price on the stock in a research note on Monday, April 28th. Wall Street Zen raised shares of Progressive from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $288.00 target price on shares of Progressive in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $288.88.

View Our Latest Stock Analysis on Progressive

Progressive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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