Roundview Capital LLC Buys 3,068 Shares of The Progressive Corporation $PGR

Roundview Capital LLC increased its stake in The Progressive Corporation (NYSE:PGR) by 5.0% during the fourth quarter, Holdings Channel reports. The firm owned 64,664 shares of the insurance provider’s stock after acquiring an additional 3,068 shares during the period. Progressive makes up approximately 0.9% of Roundview Capital LLC’s investment portfolio, making the stock its 23rd biggest position. Roundview Capital LLC’s holdings in Progressive were worth $14,725,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PGR. Dagco Inc. bought a new position in shares of Progressive in the fourth quarter worth $28,000. Ameriflex Group Inc. grew its position in Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Entrust Financial LLC bought a new position in Progressive in the fourth quarter valued at about $33,000. Kingdom Financial Group LLC. bought a new position in Progressive in the fourth quarter valued at about $34,000. Finally, Bangor Savings Bank grew its position in Progressive by 60.4% in the fourth quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PGR shares. Jefferies Financial Group decreased their target price on Progressive from $216.00 to $215.00 and set a “hold” rating on the stock in a research report on Tuesday, March 24th. Evercore reissued a “negative” rating on shares of Progressive in a research note on Wednesday, March 18th. Barclays set a $247.00 price target on Progressive in a research note on Wednesday, March 18th. Argus raised Progressive to a “hold” rating in a research note on Thursday, March 5th. Finally, UBS Group lifted their price target on Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Progressive presently has an average rating of “Hold” and an average price target of $238.11.

Progressive Trading Down 0.2%

NYSE PGR opened at $199.05 on Wednesday. The company has a market cap of $116.31 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 7.30 and a beta of 0.31. The Progressive Corporation has a 52 week low of $191.75 and a 52 week high of $289.96. The business has a 50 day moving average price of $200.22 and a 200-day moving average price of $210.12. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.37 earnings per share. As a group, equities analysts expect that The Progressive Corporation will post 16.36 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Progressive’s dividend payout ratio is currently 2.03%.

Insider Transactions at Progressive

In other Progressive news, CAO Carl G. Joyce sold 270 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the transaction, the chief accounting officer directly owned 558 shares in the company, valued at $115,227. This represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares in the company, valued at $6,857,776. This represents a 9.81% 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 3,928 shares of company stock worth $831,251 in the last three months. 0.32% of the stock is currently owned by insiders.

About Progressive

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.