Cookson Peirce & Co. Inc. Has $510,000 Holdings in The Progressive Corporation $PGR

Cookson Peirce & Co. Inc. boosted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 20.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,911 shares of the insurance provider’s stock after acquiring an additional 325 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Progressive were worth $510,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC boosted its position in Progressive by 210.0% during the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 63 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Progressive during the 1st quarter valued at about $35,000. Activest Wealth Management lifted its holdings in shares of Progressive by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after buying an additional 127 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Progressive by 1,885.7% during the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in shares of Progressive during the 1st quarter valued at about $39,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Down 0.9%

PGR opened at $220.52 on Friday. The business has a 50 day moving average price of $241.66 and a 200 day moving average price of $256.70. The Progressive Corporation has a twelve month low of $217.20 and a twelve month high of $292.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The firm has a market cap of $129.27 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.32.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.64 billion. During the same quarter last year, the firm posted $3.58 earnings per share. Research analysts forecast that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, October 2nd. Progressive’s payout ratio is currently 2.19%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PGR shares. JPMorgan Chase & Co. lifted their price target on Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Zacks Research lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Raymond James Financial reduced their price target on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Citigroup reduced their price target on Progressive from $312.00 to $301.38 and set a “buy” rating for the company in a report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Progressive in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $270.40.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 16,664 shares of Progressive stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $249.24, for a total value of $4,153,335.36. Following the transaction, the chief financial officer directly owned 228,024 shares of the company’s stock, valued at $56,832,701.76. The trade was a 6.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the completion of the transaction, the insider directly owned 15,192 shares in the company, valued at approximately $3,679,806.24. This represents a 29.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,778 shares of company stock worth $31,683,756. 0.34% of the stock is currently owned by company insiders.

Progressive Company Profile

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.