The Progressive Corporation (NYSE:PGR) Shares Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 27.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,877 shares of the insurance provider's stock after purchasing an additional 1,062 shares during the quarter. Silver Oak Securities Incorporated's holdings in Progressive were worth $1,360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Aviance Capital Partners LLC lifted its stake in shares of Progressive by 3.5% in the 1st quarter. Aviance Capital Partners LLC now owns 17,868 shares of the insurance provider's stock valued at $5,057,000 after acquiring an additional 604 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Progressive by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,370 shares of the insurance provider's stock valued at $1,803,000 after purchasing an additional 117 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Progressive by 4.5% in the 1st quarter. D.A. Davidson & CO. now owns 18,545 shares of the insurance provider's stock worth $5,249,000 after purchasing an additional 804 shares during the period. Mutual Advisors LLC raised its stake in shares of Progressive by 20.2% during the 1st quarter. Mutual Advisors LLC now owns 3,983 shares of the insurance provider's stock valued at $1,056,000 after purchasing an additional 670 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in Progressive by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 50,358 shares of the insurance provider's stock worth $14,252,000 after acquiring an additional 130 shares during the period. Institutional investors own 85.34% of the company's stock.

Progressive Stock Up 1.0%

PGR stock traded up $2.50 during trading on Friday, hitting $260.30. 2,685,585 shares of the company's stock traded hands, compared to its average volume of 2,775,782. 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 firm has a market capitalization of $152.59 billion, a P/E ratio of 17.55, a PEG ratio of 1.61 and a beta of 0.37. The business has a fifty day simple moving average of $274.28 and a two-hundred day simple moving average of $265.27. The Progressive Corporation has a 1 year low of $207.50 and a 1 year high of $292.99.

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

Progressive Announces Dividend

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

Insiders Place Their Bets

In related news, Director Dyke Kahina Van sold 2,490 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $277.67, for a total value of $691,398.30. Following the transaction, the director directly owned 12,429 shares of the company's stock, valued at $3,451,160.43. This represents a 16.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Broz sold 1,267 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $329,901.46. Following the completion of the transaction, the insider owned 27,621 shares of the company's stock, valued at $7,191,955.98. This trade represents a 4.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,705 shares of company stock valued at $11,450,948. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PGR has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Barclays boosted their target price on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Progressive from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Morgan Stanley set a $330.00 target price on Progressive and gave the company an "overweight" rating in a research report on Monday, May 19th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.88.

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.