Dakota Wealth Management Has $31.09 Million Position in The Progressive Co. (NYSE:PGR)

25 Oct 2024, 13:00 by Kim Johansen · The Markets Daily

Dakota Wealth Management increased its position in shares of The Progressive Co. (NYSE:PGR – Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,496 shares of the insurance provider’s stock after purchasing an additional 11,321 shares during the period. Progressive makes up about 0.7% of Dakota Wealth Management’s portfolio, making the stock its 27th biggest holding. Dakota Wealth Management’s holdings in Progressive were worth $31,085,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in Progressive by 4,545.0% in the 1st quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock valued at $145,858,000 after acquiring an additional 690,060 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Progressive by 548.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock valued at $167,866,000 after acquiring an additional 686,433 shares in the last quarter. Capital International Investors raised its holdings in Progressive by 15.7% in the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after acquiring an additional 670,006 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after acquiring an additional 594,330 shares in the last quarter. Finally, Swedbank AB acquired a new position in Progressive in the 1st quarter valued at $116,852,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Jo Murphy sold 9,512 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the completion of the sale, the insider now directly owns 45,787 shares of the company’s stock, valued at $10,874,412.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

PGR has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price target on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Thursday. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Bank of America lifted their price target on Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $263.19.

Get Our Latest Research Report on PGR

Progressive Stock Down 0.2 %

Shares of NYSE:PGR opened at $246.87 on Friday. The company has a market capitalization of $144.58 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 0.68 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50-day moving average is $250.14 and its 200-day moving average is $224.95. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $260.46.

Progressive Dividend Announcement

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

Progressive Company Profile

(Free Report)

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.