Empire Life Investments Inc. Has $8.78 Million Holdings in The Progressive Co. (NYSE:PGR)

Empire Life Investments Inc. lessened its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,589 shares of the insurance provider's stock after selling 5,135 shares during the period. Empire Life Investments Inc.'s holdings in Progressive were worth $8,777,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cardinal Strategic Wealth Guidance acquired a new stake in shares of Progressive during the 3rd quarter worth approximately $241,000. Invesco LLC increased its position in Progressive by 2.2% in the third quarter. Invesco LLC now owns 4,275 shares of the insurance provider's stock worth $1,085,000 after buying an additional 90 shares during the period. Chicago Partners Investment Group LLC lifted its stake in Progressive by 17.1% in the third quarter. Chicago Partners Investment Group LLC now owns 1,308 shares of the insurance provider's stock valued at $323,000 after buying an additional 191 shares during the last quarter. Weatherly Asset Management L. P. acquired a new position in shares of Progressive during the third quarter valued at $222,000. Finally, Affinity Investment Advisors LLC bought a new position in shares of Progressive during the third quarter worth about $730,000. Institutional investors own 85.34% of the company's stock.

Insider Buying and Selling at Progressive

In related news, insider John Jo Murphy sold 9,512 shares of Progressive stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the completion of the sale, the insider now owns 45,787 shares of the company's stock, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John Jo Murphy sold 9,512 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the transaction, the insider now owns 45,787 shares in the company, valued at approximately $10,874,412.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the sale, the chief executive officer now owns 473,735 shares of the company's stock, valued at $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 in the last quarter. Company insiders own 0.34% of the company's stock.

Progressive Stock Down 0.0 %

Shares of Progressive stock traded down $0.11 during midday trading on Friday, hitting $242.72. The company's stock had a trading volume of 3,237,950 shares, compared to its average volume of 2,088,544. The firm has a market capitalization of $142.15 billion, a P/E ratio of 17.64, a PEG ratio of 0.67 and a beta of 0.36. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $250.88 and a 200-day simple moving average of $226.91.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive's payout ratio is 2.91%.

Analysts Set New Price Targets

Several analysts recently weighed in on PGR shares. Barclays lifted their price objective on shares of Progressive from $267.00 to $277.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on Progressive from $280.00 to $290.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Hsbc Global Res upgraded Progressive from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Progressive from $242.00 to $251.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, StockNews.com lowered Progressive from a "buy" rating to a "hold" rating in a report on Friday. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Progressive presently has an average rating of "Moderate Buy" and a consensus target price of $263.19.

Progressive 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.