J.W. Cole Advisors Inc. Has $88,000 Stock Position in The Progressive Co. (NYSE:PGR)

J.W. Cole Advisors Inc. increased its holdings in shares of The Progressive Co. (NYSE:PGRGet Rating) by 2,714.7% during the first quarter, Holdings Channel reports. The fund owned 83,062 shares of the insurance provider’s stock after acquiring an additional 80,111 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Progressive were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PGR. Blume Capital Management Inc. acquired a new position in shares of Progressive during the 1st quarter worth approximately $25,000. Cornerstone Advisory LLC acquired a new position in shares of Progressive during the 4th quarter worth approximately $30,000. Byrne Asset Management LLC acquired a new position in shares of Progressive during the 4th quarter worth approximately $31,000. Steward Financial Group LLC increased its holdings in shares of Progressive by 953.3% during the 1st quarter. Steward Financial Group LLC now owns 316 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 286 shares during the last quarter. Finally, Core Alternative Capital increased its holdings in shares of Progressive by 1,254.2% during the 1st quarter. Core Alternative Capital now owns 325 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 301 shares during the last quarter. 85.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Andrew J. Quigg sold 3,180 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $126.43, for a total transaction of $402,047.40. Following the completion of the sale, the insider now directly owns 24,061 shares in the company, valued at approximately $3,042,032.23. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Andrew J. Quigg sold 3,180 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $126.43, for a total transaction of $402,047.40. Following the completion of the sale, the insider now directly owns 24,061 shares in the company, valued at approximately $3,042,032.23. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Patrick K. Callahan sold 19,068 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $125.77, for a total value of $2,398,182.36. Following the sale, the insider now owns 13,151 shares of the company’s stock, valued at $1,654,001.27. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Progressive Stock Performance

NYSE:PGR opened at $122.42 on Friday. The stock has a fifty day moving average price of $121.04 and a 200-day moving average price of $116.04. The company has a market cap of $71.61 billion, a price-to-earnings ratio of 87.44, a PEG ratio of 0.88 and a beta of 0.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The Progressive Co. has a fifty-two week low of $89.35 and a fifty-two week high of $129.76.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, October 7th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, October 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.33%. Progressive’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. MKM Partners boosted their target price on Progressive from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Barclays boosted their price target on Progressive from $90.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, August 18th. Raymond James boosted their price target on Progressive from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, August 29th. Wells Fargo & Company restated a “sell” rating and issued a $98.00 price target on shares of Progressive in a research note on Friday, July 15th. Finally, Credit Suisse Group boosted their price target on Progressive from $124.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Progressive has an average rating of “Hold” and a consensus target price of $118.08.

Progressive Profile

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The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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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