Lantz Financial LLC Sells 90 Shares of The Progressive Co. (NYSE:PGR)

Lantz Financial LLC trimmed its holdings in The Progressive Co. (NYSE:PGR) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,414 shares of the insurance provider’s stock after selling 90 shares during the period. Progressive makes up 0.9% of Lantz Financial LLC’s investment portfolio, making the stock its 21st biggest holding. Lantz Financial LLC’s holdings in Progressive were worth $2,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGR. Aspire Private Capital LLC bought a new position in shares of Progressive in the first quarter valued at approximately $18,597,800,000. Sunbelt Securities Inc. bought a new position in shares of Progressive in the first quarter worth $31,000. Exos TFP Holdings LLC raised its position in shares of Progressive by 270.0% in the first quarter. Exos TFP Holdings LLC now owns 222 shares of the insurance provider’s stock worth $32,000 after buying an additional 162 shares in the last quarter. Horan Securities Inc. boosted its stake in Progressive by 588.6% during the first quarter. Horan Securities Inc. now owns 241 shares of the insurance provider’s stock valued at $34,000 after buying an additional 206 shares during the period. Finally, Arlington Partners LLC grew its position in Progressive by 47.1% during the first quarter. Arlington Partners LLC now owns 256 shares of the insurance provider’s stock worth $37,000 after buying an additional 82 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Progressive Stock Up 0.6 %

Shares of PGR stock traded up $0.90 during midday trading on Tuesday, reaching $141.46. 105,745 shares of the stock were exchanged, compared to its average volume of 2,678,975. The firm has a market cap of $82.80 billion, a PE ratio of 48.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.47. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $129.61 and its two-hundred day moving average is $133.57. The Progressive Co. has a 1 year low of $110.04 and a 1 year high of $149.87.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Thursday, July 13th. The insurance provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.38). The firm had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Progressive had a net margin of 3.12% and a return on equity of 12.02%. On average, equities research analysts predict that The Progressive Co. will post 4.67 EPS for the current year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Thursday, October 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.28%. Progressive’s dividend payout ratio is currently 13.70%.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 12,000 shares of Progressive stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $126.51, for a total transaction of $1,518,120.00. Following the completion of the transaction, the chief financial officer now owns 309,507 shares in the company, valued at $39,155,730.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO John P. Sauerland sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $126.51, for a total value of $1,518,120.00. Following the transaction, the chief financial officer now owns 309,507 shares in the company, valued at $39,155,730.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew J. Quigg sold 5,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $127.50, for a total transaction of $646,425.00. Following the sale, the insider now directly owns 20,816 shares of the company’s stock, valued at approximately $2,654,040. The disclosure for this sale can be found here. Insiders have sold 74,801 shares of company stock worth $9,826,244 in the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PGR shares. BMO Capital Markets lifted their price target on Progressive from $125.00 to $130.00 and gave the company a “market perform” rating in a research report on Thursday, August 17th. Jefferies Financial Group cut their price target on shares of Progressive from $165.00 to $156.00 in a research note on Tuesday, July 18th. Wells Fargo & Company cut shares of Progressive from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $162.00 to $128.00 in a research report on Friday, July 14th. Roth Mkm reissued a “buy” rating and issued a $165.00 target price on shares of Progressive in a research note on Monday. Finally, Bank of America upped their price objective on Progressive from $198.00 to $206.00 in a report on Thursday, June 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Progressive currently has an average rating of “Hold” and an average target price of $142.93.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.