The Progressive Corporation $PGR Shares Sold by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lowered its stake in shares of The Progressive Corporation (NYSE:PGR) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 87,218 shares of the insurance provider’s stock after selling 3,823 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Progressive were worth $21,542,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PGR. LRI Investments LLC boosted its position in shares of Progressive by 13.4% during the 2nd quarter. LRI Investments LLC now owns 338 shares of the insurance provider’s stock valued at $90,000 after acquiring an additional 40 shares during the last quarter. CVA Family Office LLC raised its stake in Progressive by 4.2% during the second quarter. CVA Family Office LLC now owns 1,053 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 42 shares during the period. Bell Investment Advisors Inc grew its stake in shares of Progressive by 20.8% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $68,000 after buying an additional 44 shares during the period. Maia Wealth LLC increased its holdings in shares of Progressive by 5.4% during the 2nd quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock worth $229,000 after buying an additional 44 shares during the last quarter. Finally, Trail Ridge Investment Advisors LLC increased its holdings in shares of Progressive by 1.6% during the 2nd quarter. Trail Ridge Investment Advisors LLC now owns 2,906 shares of the insurance provider’s stock worth $775,000 after buying an additional 45 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Stock Performance

Shares of Progressive stock opened at $206.04 on Monday. The business has a 50-day simple moving average of $221.22 and a 200-day simple moving average of $232.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29. The Progressive Corporation has a one year low of $198.50 and a one year high of $292.99. The company has a market cap of $120.82 billion, a PE ratio of 11.30, a P/E/G ratio of 1.26 and a beta of 0.34.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.19%.

Insider Activity

In other news, CIO Jonathan S. Bauer sold 3,105 shares of Progressive stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the completion of the sale, the executive directly owned 26,249 shares of the company’s stock, valued at approximately $5,363,983.15. The trade was a 10.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Broz sold 1,344 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $224.80, for a total value of $302,131.20. Following the completion of the sale, the insider owned 26,354 shares in the company, valued at approximately $5,924,379.20. This represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,788 shares of company stock valued at $3,018,961 over the last quarter. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PGR shares. Zacks Research cut Progressive from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Wells Fargo & Company cut their price objective on Progressive from $242.00 to $240.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods upped their target price on shares of Progressive from $250.00 to $252.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Finally, William Blair downgraded shares of Progressive from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $259.39.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.