Kestra Advisory Services LLC Sells 130 Shares of The Progressive Co. (NYSE:PGR)

Kestra Advisory Services LLC lowered its holdings in shares of The Progressive Co. (NYSE:PGRGet Rating) by 1.1% in the third quarter, HoldingsChannel reports. The firm owned 12,186 shares of the insurance provider’s stock after selling 130 shares during the period. Kestra Advisory Services LLC’s holdings in Progressive were worth $1,416,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bartlett & Co. LLC lifted its position in Progressive by 92.8% during the second quarter. Bartlett & Co. LLC now owns 241 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 116 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in Progressive in the second quarter valued at approximately $29,000. Crewe Advisors LLC bought a new position in Progressive in the second quarter valued at approximately $31,000. James Investment Research Inc. bought a new position in Progressive in the second quarter valued at approximately $34,000. Finally, Wagner Wealth Management LLC bought a new stake in shares of Progressive during the second quarter worth $35,000. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PGR shares. Wells Fargo & Company boosted their target price on shares of Progressive from $100.00 to $114.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 18th. Evercore ISI dropped their target price on shares of Progressive to $133.00 in a report on Thursday, October 20th. Jefferies Financial Group upgraded shares of Progressive from a “hold” rating to a “buy” rating and upped their price objective for the company from $123.00 to $142.00 in a report on Friday, October 7th. Barclays upped their price objective on shares of Progressive from $104.00 to $109.00 and gave the company an “underweight” rating in a report on Thursday, December 15th. Finally, StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Friday, October 14th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $124.36.

Progressive Trading Down 0.4 %

Shares of PGR stock opened at $127.12 on Tuesday. The Progressive Co. has a 52-week low of $100.81 and a 52-week high of $135.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50-day simple moving average of $129.87 and a two-hundred day simple moving average of $124.58. The company has a market capitalization of $74.37 billion, a price-to-earnings ratio of 90.16, a PEG ratio of 0.96 and a beta of 0.46.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, January 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Thursday, January 5th. Progressive’s dividend payout ratio is currently 28.37%.

Insider Activity

In other news, insider Patrick K. Callahan sold 3,644 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $130.36, for a total transaction of $475,031.84. Following the completion of the transaction, the insider now directly owns 15,186 shares of the company’s stock, valued at approximately $1,979,646.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Patrick K. Callahan sold 3,644 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $130.36, for a total transaction of $475,031.84. Following the completion of the transaction, the insider now directly owns 15,186 shares of the company’s stock, valued at approximately $1,979,646.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 26,885 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $130.36, for a total transaction of $3,504,728.60. Following the sale, the chief executive officer now owns 431,810 shares in the company, valued at $56,290,751.60. The disclosure for this sale can be found here. Insiders sold 68,559 shares of company stock valued at $8,822,843 in the last three months. Company insiders own 0.33% of the company’s stock.

About Progressive

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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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Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Co. (NYSE:PGRGet Rating).

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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