Paragon Advisors LLC Lowers Stake in The Progressive Co. (NYSE:PGR)

Paragon Advisors LLC trimmed its position in The Progressive Co. (NYSE:PGRFree Report) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,109 shares of the insurance provider’s stock after selling 1,229 shares during the quarter. Progressive accounts for approximately 1.2% of Paragon Advisors LLC’s portfolio, making the stock its 28th largest holding. Paragon Advisors LLC’s holdings in Progressive were worth $3,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PGR. State Street Corp raised its holdings in Progressive by 1.3% in the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock valued at $6,263,763,000 after buying an additional 315,411 shares during the period. Geode Capital Management LLC raised its stake in shares of Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after acquiring an additional 1,682,213 shares during the period. FMR LLC lifted its holdings in shares of Progressive by 1.6% during the 3rd quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after acquiring an additional 170,618 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after purchasing an additional 330,667 shares during the period. Finally, Legal & General Group Plc raised its position in Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,919 shares of company stock valued at $8,222,168 in the last quarter. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PGR shares. Keefe, Bruyette & Woods dropped their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday. Evercore ISI lifted their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. TD Cowen upped their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Roth Mkm upped their price objective on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.24.

Get Our Latest Analysis on Progressive

Progressive Trading Down 3.3 %

NYSE:PGR opened at $235.57 on Monday. The Progressive Co. has a 52 week low of $164.98 and a 52 week high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The company has a market cap of $138.00 billion, a PE ratio of 17.12, a P/E/G ratio of 0.70 and a beta of 0.41. The business’s 50 day moving average is $251.34 and its two-hundred day moving average is $241.61.

Progressive (NYSE:PGRGet Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The firm had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. On average, analysts predict that The Progressive Co. will post 13.2 EPS for the current year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Progressive Profile

(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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