C WorldWide Group Holding A S Sells 180,407 Shares of The Progressive Corporation $PGR

C WorldWide Group Holding A S lowered its stake in shares of The Progressive Corporation (NYSE:PGR) by 14.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,068,221 shares of the insurance provider’s stock after selling 180,407 shares during the quarter. Progressive accounts for 3.9% of C WorldWide Group Holding A S’s portfolio, making the stock its 11th biggest position. C WorldWide Group Holding A S’s holdings in Progressive were worth $285,065,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC grew its holdings in 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 buying an additional 63 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in Progressive during the second quarter worth $33,000. Westside Investment Management Inc. grew its holdings in Progressive by 900.0% during the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after buying an additional 117 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Progressive during the first quarter worth $35,000. Finally, Activest Wealth Management grew its stake in Progressive by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 127 shares during the period. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the subject of a number of recent analyst reports. Evercore ISI reduced their price objective on Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Wells Fargo & Company reduced their price objective on Progressive from $266.00 to $246.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. The Goldman Sachs Group reduced their price objective on Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, October 27th. JPMorgan Chase & Co. upped their price objective on Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on Progressive from $262.00 to $246.00 and set a “market perform” rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $267.96.

Progressive Stock Down 0.2%

Shares of NYSE PGR opened at $209.14 on Thursday. The Progressive Corporation has a one year low of $199.90 and a one 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. The business’s fifty day moving average price is $234.86 and its 200-day moving average price is $252.72. The stock has a market capitalization of $122.60 billion, a PE ratio of 11.47, a P/E/G ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS 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 firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.64 billion. During the same period in the prior year, the company earned $3.58 EPS. On average, equities research analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently declared 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 related news, insider Steven Broz sold 1,345 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.10, for a total transaction of $325,624.50. Following the sale, the insider owned 30,388 shares of the company’s stock, valued at approximately $7,356,934.80. This represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total value of $7,543,953.54. Following the sale, the chief executive officer directly owned 476,286 shares in the company, valued at $117,194,933.16. This trade represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 58,500 shares of company stock worth $14,430,089. 0.34% of the stock is owned by company 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.