The Progressive Corporation $PGR Shares Sold by SageGuard Financial Group LLC

SageGuard Financial Group LLC lessened its stake in The Progressive Corporation (NYSE:PGR) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,366 shares of the insurance provider’s stock after selling 2,311 shares during the quarter. Progressive makes up approximately 1.7% of SageGuard Financial Group LLC’s holdings, making the stock its 19th biggest holding. SageGuard Financial Group LLC’s holdings in Progressive were worth $10,976,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bard Associates Inc. bought a new stake in Progressive in the fourth quarter valued at about $27,000. Dagco Inc. acquired a new stake in Progressive during the fourth quarter valued at approximately $28,000. HHM Wealth Advisors LLC lifted its holdings in Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after buying an additional 126 shares during the last quarter. IFC & Insurance Marketing Inc. bought a new position in Progressive during the 4th quarter worth approximately $29,000. Finally, Ameriflex Group Inc. grew its position in shares of Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Down 0.1%

NYSE:PGR opened at $224.11 on Monday. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $267.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The business has a 50 day simple moving average of $201.86 and a 200 day simple moving average of $206.77. The firm has a market capitalization of $130.95 billion, a P/E ratio of 11.39, a P/E/G ratio of 6.81 and a beta of 0.28.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same period last year, the business posted $4.37 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that The Progressive Corporation will post 17.08 EPS for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is currently 2.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PGR. Jefferies Financial Group lowered their price target on Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a report on Tuesday, March 24th. Mizuho reduced their price objective on Progressive from $235.00 to $223.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Royal Bank Of Canada set a $208.00 price objective on shares of Progressive in a report on Friday, May 22nd. Argus upgraded shares of Progressive to a “hold” rating in a research note on Thursday, March 5th. Finally, Wells Fargo & Company dropped their target price on shares of Progressive from $222.00 to $219.00 and set an “equal weight” rating on the stock in a report on Thursday, June 18th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $237.58.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total transaction of $236,907.32. Following the sale, the insider owned 27,511 shares of the company’s stock, valued at approximately $5,633,152.36. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the transaction, the insider owned 41,290 shares of the company’s stock, valued at approximately $8,258,000. This represents a 12.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,230 shares of company stock valued at $3,165,817 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.