TrimTabs Asset Management LLC Sells 126 Shares of The Progressive Co. (NYSE:PGR)

TrimTabs Asset Management LLC lowered its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 20,095 shares of the insurance provider’s stock after selling 126 shares during the quarter. TrimTabs Asset Management LLC’s holdings in The Progressive were worth $1,914,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PGR. Childress Capital Advisors LLC bought a new position in The Progressive during the fourth quarter valued at $35,000. Tompkins Financial Corp purchased a new position in The Progressive in the 4th quarter worth about $37,000. Diversified LLC purchased a new position in The Progressive in the 4th quarter worth about $41,000. Capital Directions Investment Advisors LLC increased its stake in The Progressive by 100.0% in the 4th quarter. Capital Directions Investment Advisors LLC now owns 422 shares of the insurance provider’s stock worth $42,000 after buying an additional 211 shares during the period. Finally, HM Payson & Co. increased its stake in The Progressive by 74.0% in the 3rd quarter. HM Payson & Co. now owns 583 shares of the insurance provider’s stock worth $55,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 81.47% of the company’s stock.

Shares of The Progressive stock traded down $1.46 during trading hours on Thursday, reaching $94.40. 25,513 shares of the company’s stock were exchanged, compared to its average volume of 2,994,560. The Progressive Co. has a 1 year low of $71.25 and a 1 year high of $102.05. The company has a market capitalization of $55.24 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 2.58 and a beta of 0.45. The business has a fifty day moving average of $91.06 and a two-hundred day moving average of $92.98. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

The Progressive (NYSE:PGR) last released its earnings results on Monday, March 1st. The insurance provider reported $1.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.16. The Progressive had a net margin of 12.13% and a return on equity of 28.89%. As a group, research analysts predict that The Progressive Co. will post 7.4 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, April 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Tuesday, April 6th. The Progressive’s payout ratio is 68.45%.

PGR has been the topic of a number of research reports. Wells Fargo & Company downgraded shares of The Progressive from an “equal weight” rating to an “underweight” rating and set a $99.00 target price on the stock. in a research report on Monday, January 4th. Edward Jones raised shares of The Progressive from a “hold” rating to a “buy” rating in a research report on Wednesday, March 24th. Morgan Stanley cut their target price on shares of The Progressive from $91.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 24th. The Goldman Sachs Group downgraded shares of The Progressive from a “neutral” rating to a “sell” rating and cut their target price for the company from $92.00 to $90.00 in a research report on Friday, January 8th. Finally, Raymond James reaffirmed a “buy” rating on shares of The Progressive in a research report on Monday, February 22nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The Progressive currently has a consensus rating of “Hold” and an average target price of $96.69.

In other news, CFO John P. Sauerland sold 12,000 shares of the business’s stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $91.40, for a total transaction of $1,096,800.00. Following the transaction, the chief financial officer now owns 332,721 shares of the company’s stock, valued at approximately $30,410,699.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 1,243 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $95.90, for a total transaction of $119,203.70. Following the transaction, the insider now directly owns 32,564 shares in the company, valued at approximately $3,122,887.60. The disclosure for this sale can be found here. Insiders have sold 15,594 shares of company stock valued at $1,418,589 in the last ninety days. Insiders own 0.38% of the company’s stock.

The Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.

Featured Story: Basic Economics

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Co. (NYSE:PGR).

Institutional Ownership by Quarter for The Progressive (NYSE:PGR)

Receive News & Ratings for The Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Progressive and related companies with MarketBeat.com's FREE daily email newsletter.