Freedom Day Solutions LLC Has $3.67 Million Stock Holdings in The Progressive Corporation $PGR

Freedom Day Solutions LLC lessened its holdings in shares of The Progressive Corporation (NYSE:PGR) by 0.6% in the second quarter, Holdings Channel.com reports. The fund owned 13,744 shares of the insurance provider’s stock after selling 77 shares during the quarter. Progressive comprises 0.9% of Freedom Day Solutions LLC’s holdings, making the stock its 18th largest holding. Freedom Day Solutions LLC’s holdings in Progressive were worth $3,668,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PGR. Brighton Jones LLC grew its holdings in Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Progressive during the fourth quarter worth $269,000. Bison Wealth LLC boosted its position in shares of Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Progressive by 15.8% during the first quarter. Farther Finance Advisors LLC now owns 6,399 shares of the insurance provider’s stock worth $1,819,000 after purchasing an additional 871 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Progressive by 60.3% during the first quarter. Harbor Capital Advisors Inc. now owns 11,198 shares of the insurance provider’s stock worth $3,169,000 after purchasing an additional 4,213 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PGR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Progressive in a research report on Wednesday. Barclays set a $271.00 price target on shares of Progressive in a research report on Wednesday. Jefferies Financial Group cut their price objective on shares of Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. UBS Group cut their price objective on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Citigroup reaffirmed a “buy” rating on shares of Progressive in a research report on Friday, August 29th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $279.63.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 30,659 shares of Progressive stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total value of $7,543,953.54. Following the sale, the chief executive officer directly owned 476,286 shares in the company, valued at approximately $117,194,933.16. The trade was a 6.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lori A. Niederst sold 8,063 shares of Progressive stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $250.18, for a total transaction of $2,017,201.34. Following the completion of the sale, the insider owned 39,040 shares in the company, valued at $9,767,027.20. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,045 shares of company stock worth $31,997,390. 0.34% of the stock is owned by insiders.

Progressive Stock Down 0.5%

Shares of PGR stock opened at $241.90 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.21. The Progressive Corporation has a 1 year low of $228.54 and a 1 year high of $292.99. The firm’s fifty day moving average price is $245.21 and its two-hundred day moving average price is $259.98. The firm has a market capitalization of $141.80 billion, a P/E ratio of 13.63, a PEG ratio of 1.35 and a beta of 0.32.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.45. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The firm had revenue of $20.08 billion for the quarter, compared to analyst estimates of $20.39 billion. During the same period in the previous year, the business earned $2.48 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date is Thursday, October 2nd. Progressive’s payout ratio is presently 2.25%.

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.