Personal CFO Solutions LLC Trims Holdings in The Progressive Co. (NYSE:PGR)

Personal CFO Solutions LLC decreased its stake in shares of The Progressive Co. (NYSE:PGRFree Report) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,174 shares of the insurance provider’s stock after selling 605 shares during the quarter. Personal CFO Solutions LLC’s holdings in Progressive were worth $346,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Progressive by 9.1% during the third quarter. Van ECK Associates Corp now owns 18,067 shares of the insurance provider’s stock worth $2,517,000 after acquiring an additional 1,509 shares during the last quarter. HighTower Advisors LLC increased its stake in Progressive by 9.0% during the third quarter. HighTower Advisors LLC now owns 147,277 shares of the insurance provider’s stock worth $20,526,000 after acquiring an additional 12,180 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in Progressive by 28.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 2,247 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 501 shares during the last quarter. Ruggaard & Associates LLC increased its stake in Progressive by 6.1% during the third quarter. Ruggaard & Associates LLC now owns 1,739 shares of the insurance provider’s stock worth $242,000 after acquiring an additional 100 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in Progressive by 7.3% during the third quarter. Johnson Investment Counsel Inc. now owns 19,663 shares of the insurance provider’s stock worth $2,739,000 after acquiring an additional 1,342 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Progressive from $244.00 to $243.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price objective on shares of Progressive in a report on Monday, April 1st. The Goldman Sachs Group boosted their price objective on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday, March 25th. Jefferies Financial Group boosted their price objective on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Roth Mkm upped their price target on Progressive from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus target price of $215.69.

Read Our Latest Analysis on PGR

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 12,457 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total transaction of $2,546,584.51. Following the completion of the sale, the chief financial officer now directly owns 312,958 shares of the company’s stock, valued at approximately $63,978,003.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Progressive news, insider Steven Broz sold 7,361 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $207.25, for a total transaction of $1,525,567.25. Following the completion of the sale, the insider now directly owns 35,503 shares of the company’s stock, valued at approximately $7,357,996.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 12,457 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total value of $2,546,584.51. Following the transaction, the chief financial officer now directly owns 312,958 shares of the company’s stock, valued at $63,978,003.94. The disclosure for this sale can be found here. Insiders sold a total of 20,818 shares of company stock valued at $4,280,482 in the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive Stock Down 1.1 %

Shares of NYSE PGR opened at $210.27 on Tuesday. The stock has a market cap of $123.16 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 0.81 and a beta of 0.35. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The Progressive Co. has a 52-week low of $111.41 and a 52-week high of $217.77. The business has a 50-day moving average price of $209.54 and a 200 day moving average price of $189.38.

Progressive (NYSE:PGRGet Free Report) last announced its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. The firm had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Equities research analysts forecast that The Progressive Co. will post 11.64 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, July 3rd. Progressive’s dividend payout ratio is presently 4.09%.

About Progressive

(Free Report)

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

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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