The Progressive Corporation $PGR Shares Sold by Savant Capital LLC

Savant Capital LLC reduced its stake in The Progressive Corporation (NYSE:PGR) by 31.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,103 shares of the insurance provider’s stock after selling 5,018 shares during the period. Savant Capital LLC’s holdings in Progressive were worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PGR. Dagco Inc. bought a new stake in shares of Progressive in the 4th quarter worth approximately $28,000. Ameriflex Group Inc. lifted its stake in Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Entrust Financial LLC acquired a new stake in Progressive during the fourth quarter valued at approximately $33,000. Kingdom Financial Group LLC. acquired a new stake in Progressive during the fourth quarter valued at approximately $34,000. Finally, Bangor Savings Bank lifted its stake in Progressive by 60.4% during the fourth quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 58 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.1%

Progressive stock opened at $190.27 on Monday. The firm’s 50 day moving average price is $199.66 and its two-hundred day moving average price is $209.68. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $289.96. The firm has a market cap of $111.18 billion, a PE ratio of 9.67, a P/E/G ratio of 5.52 and a beta of 0.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. During the same quarter in the prior year, the business posted $4.37 EPS. Progressive’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that The Progressive Corporation will post 16.36 EPS for the current fiscal year.

Progressive Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on PGR. BMO Capital Markets reissued a “market perform” rating and set a $220.00 target price on shares of Progressive in a research note on Wednesday, May 20th. Jefferies Financial Group cut their target price on shares of Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a research note on Tuesday, March 24th. Weiss Ratings downgraded shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Roth Mkm set a $235.00 price target on shares of Progressive in a research report on Thursday, February 19th. Finally, UBS Group upped their price target on shares of Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, March 23rd. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Progressive currently has an average rating of “Hold” and a consensus price target of $238.11.

Insider Buying and Selling at Progressive

In other news, insider Karen Bailo sold 3,517 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the transaction, the insider owned 32,348 shares in the company, valued at $6,857,776. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Carl G. Joyce sold 270 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total transaction of $55,755.00. Following the transaction, the chief accounting officer owned 558 shares in the company, valued at approximately $115,227. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,928 shares of company stock worth $831,251. 0.32% of the stock is currently owned by company insiders.

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.