Dalton Greiner Hartman Maher & Co. lessened its position in Progressive Corp (NYSE:PGR) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,556 shares of the insurance provider’s stock after selling 931 shares during the quarter. Dalton Greiner Hartman Maher & Co.’s holdings in Progressive were worth $1,198,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. First Financial Corp IN bought a new stake in Progressive during the 3rd quarter valued at about $25,000. Simon Quick Advisors LLC lifted its holdings in Progressive by 562.0% during the 4th quarter. Simon Quick Advisors LLC now owns 523 shares of the insurance provider’s stock valued at $38,000 after buying an additional 444 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in Progressive by 26.6% during the 4th quarter. Carroll Financial Associates Inc. now owns 647 shares of the insurance provider’s stock valued at $46,000 after buying an additional 136 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Progressive during the 3rd quarter valued at about $53,000. Finally, HM Payson & Co. bought a new stake in Progressive during the 2nd quarter valued at about $64,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.
NYSE:PGR opened at $75.72 on Thursday. Progressive Corp has a one year low of $61.84 and a one year high of $84.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $43.41 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.88 and a beta of 0.64. The firm has a 50-day simple moving average of $72.78 and a 200-day simple moving average of $75.38.
Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, November 13th. The insurance provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.30 by $0.03. Progressive had a net margin of 8.69% and a return on equity of 26.09%. On average, research analysts predict that Progressive Corp will post 5.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 8th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. Progressive’s dividend payout ratio is currently 9.05%.
In other news, CEO Susan Patricia Griffith sold 22,614 shares of Progressive stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $71.99, for a total value of $1,627,981.86. Following the transaction, the chief executive officer now owns 376,308 shares of the company’s stock, valued at approximately $27,090,412.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 5,000 shares of Progressive stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $70.84, for a total transaction of $354,200.00. Following the completion of the transaction, the insider now directly owns 25,295 shares in the company, valued at approximately $1,791,897.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,895 shares of company stock valued at $3,263,586. Company insiders own 0.39% of the company’s stock.
A number of brokerages recently weighed in on PGR. Credit Suisse Group decreased their price objective on shares of Progressive from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Evercore ISI began coverage on shares of Progressive in a report on Thursday, October 17th. They set an “in-line” rating and a $78.00 price objective for the company. Goldman Sachs Group lowered shares of Progressive from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. ValuEngine lowered shares of Progressive from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Finally, Raymond James lowered shares of Progressive from a “strong-buy” rating to an “outperform” rating and set a $85.00 price objective for the company. in a report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.00.
Progressive Company Profile
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
Further Reading: What is a stock split?
Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progressive Corp (NYSE:PGR).
Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.