Hantz Financial Services Inc. Sells 53 Shares of The Progressive Corporation $PGR

Hantz Financial Services Inc. decreased its holdings in shares of The Progressive Corporation (NYSE:PGR) by 0.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,597 shares of the insurance provider’s stock after selling 53 shares during the period. Hantz Financial Services Inc.’s holdings in Progressive were worth $6,830,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PGR. TruNorth Capital Management LLC increased its position in shares of Progressive by 210.0% during the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Progressive during the first quarter worth about $35,000. Activest Wealth Management increased its position in shares of Progressive by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 127 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of Progressive by 1,885.7% during the second quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 132 shares in the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of Progressive during the first quarter worth about $39,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PGR shares. Zacks Research downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. BMO Capital Markets decreased their target price on shares of Progressive from $252.00 to $247.00 and set a “market perform” rating for the company in a research report on Thursday, October 16th. The Goldman Sachs Group decreased their target price on shares of Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research report on Monday. Jefferies Financial Group reduced their price objective on shares of Progressive from $309.00 to $287.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Morgan Stanley set a $214.00 price objective on shares of Progressive and gave the stock an “underweight” rating in a research report on Monday, October 20th. Eight research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $268.90.

Progressive Stock Down 0.6%

Progressive stock opened at $206.71 on Friday. The Progressive Corporation has a twelve month low of $206.41 and a twelve month high of $292.99. The firm has a 50 day moving average price of $237.97 and a 200-day moving average price of $254.67. The company has a market capitalization of $121.18 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.19 and a beta of 0.32. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19.

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

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, October 2nd were given 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 of this dividend was Thursday, October 2nd. Progressive’s dividend payout ratio is currently 2.19%.

Insider Activity

In other news, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the completion of the transaction, the chief executive officer directly owned 476,286 shares of the company’s stock, valued at $117,194,933.16. This represents a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of the stock in a transaction that occurred on 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 58,500 shares of company stock worth $14,430,089. 0.34% of the stock is owned by insiders.

Progressive 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.