The Progressive Corporation $PGR Stock Holdings Lifted by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC grew its position in The Progressive Corporation (NYSE:PGR) by 33.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,757 shares of the insurance provider’s stock after purchasing an additional 3,446 shares during the period. SevenBridge Financial Group LLC’s holdings in Progressive were worth $2,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Progressive in the fourth quarter valued at approximately $269,000. Bison Wealth LLC grew its position in Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after acquiring an additional 80 shares in the last quarter. HUB Investment Partners LLC increased its stake in shares of Progressive by 7.8% during the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock worth $609,000 after purchasing an additional 166 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in shares of Progressive by 12.0% during the 2nd quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after purchasing an additional 1,622 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Down 2.3%

Shares of PGR stock opened at $219.13 on Tuesday. The Progressive Corporation has a one year low of $189.20 and a one year high of $267.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a fifty day moving average price of $202.17 and a 200 day moving average price of $206.72. The stock has a market cap of $128.05 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 6.81 and a beta of 0.28.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.37 EPS. Analysts predict that The Progressive Corporation will post 17.08 earnings per share for the current year.

Progressive Dividend Announcement

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

Insider Buying and Selling

In other news, insider John Jo Murphy sold 5,916 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the sale, the insider directly owned 41,290 shares in the company, valued at approximately $8,258,000. This represents a 12.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the transaction, the director directly owned 22,546 shares of the company’s stock, valued at approximately $4,877,376.18. The trade was a 23.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 15,230 shares of company stock valued at $3,165,817 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PGR. UBS Group lifted their price objective on shares of Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Barclays set a $247.00 target price on Progressive in a report on Wednesday, March 18th. Wells Fargo & Company downgraded Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price target for the company. in a research note on Monday. Weiss Ratings lowered Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Progressive from $208.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, June 18th. Six analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Progressive currently has an average rating of “Hold” and an average price target of $236.84.

Progressive 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.