Poinciana Advisors Group LLC Has $362,000 Position in The Progressive Corporation (NYSE:PGR)

Poinciana Advisors Group LLC lowered its stake in shares of The Progressive Corporation (NYSE:PGR) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280 shares of the insurance provider’s stock after selling 93 shares during the quarter. Poinciana Advisors Group LLC’s holdings in Progressive were worth $362,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PGR. Highline Wealth Partners LLC boosted its holdings in shares of Progressive by 114.0% in the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Progressive in the 1st quarter valued at $28,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive in the 4th quarter valued at $28,000. Garde Capital Inc. acquired a new stake in shares of Progressive in the 1st quarter valued at $33,000. Finally, Atala Financial Inc acquired a new stake in shares of Progressive in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling

In other news, insider Steven Broz sold 1,267 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $329,901.46. Following the completion of the sale, the insider directly owned 27,621 shares in the company, valued at $7,191,955.98. This trade represents a 4.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Jo Murphy sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.38, for a total value of $1,041,520.00. Following the completion of the sale, the insider owned 41,289 shares of the company’s stock, valued at approximately $10,750,829.82. This represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,705 shares of company stock worth $11,450,948 over the last 90 days. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PGR shares. Wells Fargo & Company raised their target price on Progressive from $328.00 to $333.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Barclays dropped their price target on Progressive from $297.00 to $287.00 and set an “equal weight” rating for the company in a research note on Monday. UBS Group dropped their price target on Progressive from $291.00 to $280.00 and set a “neutral” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on Progressive from $288.00 to $290.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, BMO Capital Markets increased their price target on Progressive from $282.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.41.

Progressive Stock Performance

Shares of Progressive stock opened at $250.35 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $272.83 and a two-hundred day moving average price of $265.51. The Progressive Corporation has a 1-year low of $207.50 and a 1-year high of $292.99. The company has a market cap of $146.76 billion, a P/E ratio of 16.88, a PEG ratio of 1.59 and a beta of 0.37.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.28 by $0.37. Progressive had a return on equity of 33.50% and a net margin of 11.10%. The firm had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. As a group, analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, July 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a dividend yield of 0.15%. Progressive’s dividend payout ratio is presently 2.70%.

About Progressive

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.