Kingswood Wealth Advisors LLC Sells 364 Shares of The Progressive Corporation $PGR

Kingswood Wealth Advisors LLC decreased its stake in shares of The Progressive Corporation (NYSE:PGR) by 17.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,712 shares of the insurance provider’s stock after selling 364 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Progressive were worth $457,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baron Silver Stevens Financial Advisors LLC bought a new position in shares of Progressive during the 2nd quarter worth about $306,000. State of Alaska Department of Revenue increased its holdings in shares of Progressive by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 68,644 shares of the insurance provider’s stock worth $19,426,000 after purchasing an additional 1,800 shares during the period. Trust Co. of Oklahoma bought a new position in shares of Progressive during the 2nd quarter worth about $439,000. Belmont Capital LLC bought a new position in shares of Progressive during the 1st quarter worth about $580,000. Finally, Zurich Insurance Group Ltd FI increased its holdings in shares of Progressive by 87.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 414,183 shares of the insurance provider’s stock worth $117,218,000 after purchasing an additional 193,800 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other news, CEO Susan Patricia Griffith sold 30,660 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $242.12, for a total transaction of $7,423,399.20. Following the transaction, the chief executive officer directly owned 506,945 shares in the company, valued at approximately $122,741,523.40. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lori A. Niederst sold 8,063 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $250.18, for a total transaction of $2,017,201.34. Following the transaction, the insider owned 39,040 shares in the company, valued at $9,767,027.20. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,045 shares of company stock valued at $31,997,390. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PGR shares. Citigroup reiterated a “buy” rating on shares of Progressive in a research report on Friday, August 29th. BMO Capital Markets set a $252.00 target price on shares of Progressive in a research report on Thursday, September 18th. JPMorgan Chase & Co. lifted their target price on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group decreased their target price on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Progressive from $268.00 to $270.00 and gave the company a “market perform” rating in a research report on Thursday, September 18th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Progressive has an average rating of “Hold” and an average price target of $279.63.

Progressive Price Performance

NYSE:PGR opened at $241.90 on Friday. The firm has a market cap of $141.80 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.35 and a beta of 0.32. The Progressive Corporation has a 12 month low of $228.54 and a 12 month high of $292.99. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $245.21 and its two-hundred day moving average price is $259.98.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.45. The firm had revenue of $20.08 billion for the quarter, compared to analyst estimates of $20.39 billion. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.48 earnings per share. On average, equities analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s payout ratio is 2.25%.

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.