1,336 Shares in The Progressive Co. (NYSE:PGR) Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC acquired a new position in The Progressive Co. (NYSE:PGR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,336 shares of the insurance provider’s stock, valued at approximately $213,000.

Several other large investors also recently modified their holdings of PGR. Giverny Capital Inc. grew its holdings in Progressive by 2.9% during the third quarter. Giverny Capital Inc. now owns 501,431 shares of the insurance provider’s stock valued at $69,849,000 after purchasing an additional 14,022 shares during the period. AIA Group Ltd grew its holdings in Progressive by 4.9% during the third quarter. AIA Group Ltd now owns 155,427 shares of the insurance provider’s stock valued at $21,651,000 after purchasing an additional 7,268 shares during the period. Invesco LLC grew its holdings in Progressive by 2.0% during the fourth quarter. Invesco LLC now owns 3,537 shares of the insurance provider’s stock valued at $563,000 after purchasing an additional 70 shares during the period. Strs Ohio grew its holdings in Progressive by 3.1% during the fourth quarter. Strs Ohio now owns 168,187 shares of the insurance provider’s stock valued at $26,788,000 after purchasing an additional 4,983 shares during the period. Finally, First Affirmative Financial Network bought a new stake in Progressive during the fourth quarter valued at about $295,000. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karen Bailo sold 8,464 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total value of $1,603,843.36. Following the transaction, the insider now directly owns 32,342 shares in the company, valued at approximately $6,128,485.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,139 shares of company stock valued at $7,458,139. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Roth Mkm boosted their price target on Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Bank of America dropped their price objective on Progressive from $279.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group upped their price objective on Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price objective on shares of Progressive in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $211.88.

Progressive Price Performance

NYSE:PGR opened at $208.00 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.31 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $121.83 billion, a P/E ratio of 21.29, a P/E/G ratio of 0.82 and a beta of 0.35. The Progressive Co. has a 12 month low of $111.41 and a 12 month high of $216.21. The business’s 50-day moving average is $202.45 and its 200 day moving average is $177.51.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The business had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts forecast that The Progressive Co. will post 11.34 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, April 4th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

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.