Brookwood Investment Group LLC Has $717,000 Holdings in The Progressive Corporation $PGR

Brookwood Investment Group LLC lessened its holdings in shares of The Progressive Corporation (NYSE:PGR) by 35.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,687 shares of the insurance provider’s stock after selling 1,457 shares during the period. Brookwood Investment Group LLC’s holdings in Progressive were worth $717,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PGR. Rise Advisors LLC raised its stake in Progressive by 7.4% during the first quarter. Rise Advisors LLC now owns 521 shares of the insurance provider’s stock worth $147,000 after buying an additional 36 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in Progressive by 2.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,927 shares of the insurance provider’s stock worth $545,000 after buying an additional 39 shares during the last quarter. LRI Investments LLC raised its stake in Progressive by 13.4% during the second quarter. LRI Investments LLC now owns 338 shares of the insurance provider’s stock worth $90,000 after buying an additional 40 shares during the last quarter. True North Advisors LLC raised its stake in Progressive by 4.0% during the first quarter. True North Advisors LLC now owns 1,055 shares of the insurance provider’s stock worth $299,000 after buying an additional 41 shares during the last quarter. Finally, Prosperity Consulting Group LLC raised its stake in Progressive by 1.1% during the first quarter. Prosperity Consulting Group LLC now owns 3,824 shares of the insurance provider’s stock worth $1,082,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity

In other news, insider John Jo Murphy sold 2,218 shares of Progressive stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $250.78, for a total transaction of $556,230.04. Following the completion of the transaction, the insider directly owned 45,724 shares in the company, valued at $11,466,664.72. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the transaction, the insider owned 15,192 shares of the company’s stock, valued at $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 three months, insiders sold 58,500 shares of company stock valued at $14,430,089. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PGR shares. Wells Fargo & Company lowered their target price on shares of Progressive from $266.00 to $246.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. Jefferies Financial Group lowered their target price on shares of Progressive from $309.00 to $287.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Cantor Fitzgerald raised shares of Progressive to a “hold” rating in a research note on Wednesday, August 13th. Raymond James Financial decreased their price target on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Finally, UBS Group decreased their price target on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $268.90.

Progressive Stock Down 1.3%

Shares of NYSE PGR opened at $216.29 on Tuesday. The stock has a market capitalization of $126.79 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.26 and a beta of 0.32. The company has a 50-day moving average price of $240.48 and a 200-day moving average price of $255.91. The Progressive Corporation has a 1 year low of $216.10 and a 1 year high of $292.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same quarter in the prior year, the business earned $3.58 earnings per share. On average, equities research analysts forecast that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, October 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, October 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.19%.

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.