The Progressive Corporation $PGR Shares Sold by Andra AP fonden

Andra AP fonden cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 7.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 113,500 shares of the insurance provider’s stock after selling 9,100 shares during the period. Andra AP fonden’s holdings in Progressive were worth $30,289,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC raised its holdings in Progressive by 210.0% in the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock valued at $26,000 after buying an additional 63 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Progressive in the 2nd quarter valued at approximately $33,000. Westside Investment Management Inc. raised its stake in Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Progressive during the first quarter worth approximately $35,000. Finally, Activest Wealth Management lifted its position in shares of Progressive by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after buying an additional 127 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on PGR shares. Raymond James Financial reduced their price objective 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. Wolfe Research initiated coverage on shares of Progressive in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Bank of America lifted their price objective on Progressive from $350.00 to $351.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Zacks Research downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Wall Street Zen lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Eight equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $267.96.

Insider Buying and Selling at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 30,659 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total value 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 approximately $117,194,933.16. The trade was a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.10, for a total value of $325,624.50. Following the completion of the transaction, the insider owned 30,388 shares in the company, valued at approximately $7,356,934.80. This represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,500 shares of company stock valued at $14,430,089 over the last quarter. Company insiders own 0.34% of the company’s stock.

Progressive Trading Down 0.2%

Shares of PGR opened at $209.14 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $122.60 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a 1-year low of $199.90 and a 1-year high of $292.99. The business’s 50-day moving average price is $234.86 and its 200 day moving average price is $252.72.

Progressive (NYSE:PGR) last posted its quarterly earnings results 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 company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period last year, the company earned $3.58 earnings per share. Analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, October 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, October 2nd. Progressive’s dividend payout ratio is presently 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.