Bokf Na Sells 4,891 Shares of The Progressive Corporation $PGR

Bokf Na trimmed its holdings in The Progressive Corporation (NYSE:PGR) by 20.4% in the 4th quarter, Holdings Channel reports. The fund owned 19,123 shares of the insurance provider’s stock after selling 4,891 shares during the quarter. Bokf Na’s holdings in Progressive were worth $4,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Progressive by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock valued at $12,584,067,000 after acquiring an additional 593,612 shares during the period. State Street Corp lifted its position in Progressive by 0.3% in the third quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after purchasing an additional 78,374 shares during the period. Capital International Investors lifted its position in Progressive by 78.9% in the third quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock worth $3,384,082,000 after purchasing an additional 6,045,732 shares during the period. Capital Research Global Investors lifted its position in Progressive by 26.1% in the third quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock worth $2,757,905,000 after purchasing an additional 2,314,864 shares during the period. Finally, Legal & General Group Plc lifted its position in Progressive by 4.9% in the third quarter. Legal & General Group Plc now owns 4,196,111 shares of the insurance provider’s stock worth $1,036,230,000 after purchasing an additional 197,603 shares during the period. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

Shares of NYSE:PGR opened at $197.16 on Thursday. The Progressive Corporation has a twelve month low of $192.02 and a twelve month high of $289.96. The firm has a market cap of $115.21 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 6.52 and a beta of 0.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.35 and a current ratio of 0.27. The business has a fifty day moving average of $202.92 and a 200-day moving average of $211.64.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $4.37 earnings per share. On average, equities research analysts predict that The Progressive Corporation will post 16.38 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Thursday, April 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, April 2nd. Progressive’s dividend payout ratio (DPR) is presently 2.03%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PGR shares. Argus raised Progressive to a “hold” rating in a research report on Thursday, March 5th. Zacks Research raised Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Jefferies Financial Group reduced their target price on Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a research report on Friday, March 27th. Finally, Wells Fargo & Company raised their target price on Progressive from $215.00 to $218.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average price target of $238.39.

Insider Transactions at Progressive

In related news, insider Maribel Pumarejo sold 739 shares of Progressive stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total value of $150,201.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. The trade was a 9.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,933 shares of company stock valued at $1,441,564 in the last three months. Company insiders own 0.32% of the company’s stock.

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.