Trueblood Wealth Management LLC Sells 61 Shares of The Progressive Co. (NYSE:PGR)

26 Oct 2024, 13:30 by Tristan Rich · The Markets Daily

Trueblood Wealth Management LLC cut its position in The Progressive Co. (NYSE:PGR – Free Report) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,353 shares of the insurance provider’s stock after selling 61 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Progressive were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Davis Capital Management bought a new stake in shares of Progressive in the 3rd quarter valued at about $25,000. WR Wealth Planners LLC increased its position in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after buying an additional 67 shares during the last quarter. Hilltop National Bank raised its stake in Progressive by 126.0% in the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after buying an additional 92 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Progressive in the first quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock valued at $18,674,912 over the last 90 days. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Roth Mkm upped their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Jefferies Financial Group raised their price objective on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.19.

Get Our Latest Report on PGR

Progressive Stock Down 1.3 %

PGR stock opened at $243.78 on Friday. The firm has a 50-day moving average price of $250.34 and a 200-day moving average price of $225.10. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $142.77 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35.

Progressive Announces Dividend

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

About Progressive

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