The Progressive Corporation $PGR Stock Position Reduced by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA lessened its stake in shares of The Progressive Corporation (NYSE:PGR) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 880,863 shares of the insurance provider’s stock after selling 2,837 shares during the period. Progressive accounts for approximately 11.9% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its biggest position. Mcdonald Capital Investors Inc. CA owned 0.15% of Progressive worth $174,622,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC boosted its stake in Progressive by 235.1% during the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares during the last quarter. Bard Associates Inc. bought a new stake in Progressive in the 4th quarter worth approximately $27,000. Dagco Inc. purchased a new stake in shares of Progressive during the 4th quarter worth approximately $28,000. HHM Wealth Advisors LLC boosted its position in shares of Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 126 shares during the last quarter. Finally, IFC & Insurance Marketing Inc. purchased a new position in shares of Progressive in the fourth quarter valued at $29,000. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PGR shares. Wells Fargo & Company cut shares of Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price target on the stock. in a research report on Monday, June 29th. UBS Group boosted their price objective on Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. HSBC raised their price objective on Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their target price on Progressive from $210.00 to $231.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Finally, Bank of America cut their target price on Progressive from $331.00 to $313.00 and set a “buy” rating on the stock in a research report on Thursday, June 18th. Six analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average target price of $238.05.

Insider Buying and Selling at Progressive

In other Progressive news, insider John Jo Murphy sold 5,916 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the transaction, the insider directly owned 41,290 shares in the company, valued at $8,258,000. This represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of the firm’s 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 transaction, the insider directly owned 27,511 shares in the company, valued at approximately $5,633,152.36. This trade represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,230 shares of company stock valued at $3,165,817 in the last quarter. 0.32% of the stock is owned by insiders.

Progressive Stock Performance

Progressive stock opened at $234.84 on Tuesday. 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 firm has a market capitalization of $137.23 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 4.36 and a beta of 0.26. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $254.93. The company’s 50-day moving average is $207.57 and its 200 day moving average is $206.81.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.37 earnings per share. Research analysts forecast that The Progressive Corporation will post 17.3 EPS for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s payout ratio is presently 2.03%.

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.