Brighton Jones LLC Purchases 251 Shares of The Progressive Corporation $PGR

Brighton Jones LLC boosted its position in The Progressive Corporation (NYSE:PGR) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,216 shares of the insurance provider’s stock after acquiring an additional 251 shares during the quarter. Brighton Jones LLC’s holdings in Progressive were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PGR. TruNorth Capital Management LLC boosted its position in Progressive by 210.0% during the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock valued at $26,000 after buying an additional 63 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Progressive during the first quarter worth about $35,000. Activest Wealth Management boosted its holdings in shares of Progressive by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 127 shares during the period. Richardson Financial Services Inc. raised its stake in Progressive by 1,885.7% in the second quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after buying an additional 132 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in Progressive in the first quarter worth about $39,000. Institutional investors own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, insider Steven Broz sold 1,345 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $325,624.50. Following the transaction, the insider directly owned 30,388 shares in the company, valued at approximately $7,356,934.80. This represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 30,659 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the transaction, the chief executive officer directly owned 476,286 shares in the company, valued at approximately $117,194,933.16. This trade represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,500 shares of company stock worth $14,430,089 in the last three months. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PGR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Progressive in a research note on Wednesday, October 8th. UBS Group dropped their target price on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Jefferies Financial Group dropped their target price on shares of Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Barclays dropped their price target on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Finally, Zacks Research cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $268.90.

Progressive Trading Down 1.3%

Shares of PGR stock opened at $216.29 on Tuesday. The company has a market cap of $126.79 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.26 and a beta of 0.32. The Progressive Corporation has a 1 year low of $216.10 and a 1 year high of $292.99. The stock’s 50 day simple moving average is $240.48 and its two-hundred day simple moving average is $255.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.04 by ($0.59). The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same period in the previous year, the business earned $3.58 earnings per share. Research analysts predict that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, October 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, October 2nd. Progressive’s dividend payout ratio is presently 2.19%.

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.