Groupe la Francaise Has $5.66 Million Holdings in The Progressive Corporation $PGR

Groupe la Francaise trimmed its position in shares of The Progressive Corporation (NYSE:PGR) by 26.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,528 shares of the insurance provider’s stock after selling 10,199 shares during the quarter. Groupe la Francaise’s holdings in Progressive were worth $5,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Western Wealth Management LLC boosted its holdings in shares of Progressive by 17.0% in the 1st quarter. Western Wealth Management LLC now owns 7,590 shares of the insurance provider’s stock worth $1,505,000 after acquiring an additional 1,104 shares in the last quarter. Kentucky Retirement Systems increased its holdings in Progressive by 23.9% during the 1st quarter. Kentucky Retirement Systems now owns 45,574 shares of the insurance provider’s stock valued at $9,035,000 after purchasing an additional 8,782 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Progressive by 29.5% during the 1st quarter. Centaurus Financial Inc. now owns 1,771 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 403 shares in the last quarter. Bull Harbor Capital LLC bought a new position in Progressive in the 1st quarter valued at $360,000. Finally, Strategic Investment Advisors MI bought a new position in Progressive in the 1st quarter valued at $121,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PGR shares. Morgan Stanley upgraded Progressive from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $190.00 to $210.00 in a report on Friday, July 24th. Bank of America cut their price target on Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a report on Thursday, July 16th. HSBC upped their price target on shares of Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Evercore set a $240.00 price objective on shares of Progressive in a report on Friday, July 10th. Finally, Weiss Ratings cut shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $236.11.

Insider Buying and Selling at Progressive

In other Progressive news, insider Karen Bailo sold 8,452 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $212.71, for a total value of $1,797,824.92. Following the transaction, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,880,743.08. This represents a 20.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Susan Patricia Griffith sold 37,338 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $212.71, for a total value of $7,942,165.98. Following the transaction, the chief executive officer owned 522,776 shares in the company, valued at approximately $111,199,682.96. This trade represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 74,885 shares of company stock valued at $15,880,459 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Progressive Stock Performance

Shares of NYSE:PGR opened at $211.50 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $254.93. The stock has a market capitalization of $123.59 billion, a P/E ratio of 10.61, a P/E/G ratio of 2.88 and a beta of 0.26. The business has a 50-day moving average price of $211.33 and a two-hundred day moving average price of $206.05.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.01%.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.