TCV Trust & Wealth Management Inc. Invests $233,000 in The Progressive Co. (NYSE:PGR)

TCV Trust & Wealth Management Inc. bought a new stake in shares of The Progressive Co. (NYSE:PGR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 918 shares of the insurance provider’s stock, valued at approximately $233,000.

Other hedge funds have also bought and sold shares of the company. Davis Capital Management purchased a new position in shares of Progressive during the 3rd quarter valued at about $25,000. WR Wealth Planners LLC lifted its holdings in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Hilltop National Bank boosted its position in shares of Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the period. DiNuzzo Private Wealth Inc. increased its stake in shares of Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Progressive during the 1st quarter valued at $36,000. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In related news, insider Steven Broz sold 2,981 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now owns 13,723 shares of the company’s stock, valued at $3,462,038.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,843 shares of company stock valued at $18,674,912. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PGR. Bank of America increased their price target on Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Citigroup dropped their price target on Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Evercore ISI lifted their price objective on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Roth Mkm upped their target price on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and an average target price of $263.19.

Progressive Stock Performance

NYSE:PGR opened at $243.78 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s fifty day moving average is $250.50 and its 200 day moving average is $225.61. The firm has a market capitalization of $142.77 billion, a PE ratio of 17.72, a PEG ratio of 0.68 and a beta of 0.35. The Progressive Co. has a fifty-two week low of $149.14 and a fifty-two week high of $260.46.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

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.