New Hampshire Trust Raises Holdings in The Progressive Corporation $PGR

New Hampshire Trust raised its stake in shares of The Progressive Corporation (NYSE:PGR) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,382 shares of the insurance provider’s stock after acquiring an additional 115 shares during the period. New Hampshire Trust’s holdings in Progressive were worth $369,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Interchange Capital Partners LLC increased its position in shares of Progressive by 5.5% during the second quarter. Interchange Capital Partners LLC now owns 2,219 shares of the insurance provider’s stock valued at $592,000 after acquiring an additional 116 shares during the last quarter. Cabot Wealth Management Inc. acquired a new stake in shares of Progressive during the second quarter valued at about $1,955,000. Brighton Jones LLC increased its position in shares of Progressive by 6.3% during the second quarter. Brighton Jones LLC now owns 4,216 shares of the insurance provider’s stock valued at $1,125,000 after acquiring an additional 251 shares during the last quarter. MQS Management LLC increased its position in shares of Progressive by 96.8% during the second quarter. MQS Management LLC now owns 1,610 shares of the insurance provider’s stock valued at $430,000 after acquiring an additional 792 shares during the last quarter. Finally, Shaker Investments LLC OH acquired a new stake in shares of Progressive during the second quarter valued at about $2,623,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PGR. Jefferies Financial Group dropped their price target on shares of Progressive from $309.00 to $287.00 and set a “buy” rating for the company in a research report on Monday, August 11th. BMO Capital Markets lowered their price objective on shares of Progressive from $252.00 to $247.00 and set a “market perform” rating for the company in a research note on Thursday, October 16th. Wells Fargo & Company decreased their price target on shares of Progressive from $266.00 to $246.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. Barclays decreased their price target on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Finally, UBS Group reduced their price objective on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $270.40.

Insiders Place Their Bets

In other news, insider Lori A. Niederst sold 8,063 shares of the business’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 value of $2,017,201.34. Following the transaction, the insider owned 39,040 shares of the company’s stock, valued at approximately $9,767,027.20. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $242.22, for a total value of $1,555,052.40. Following the completion of the transaction, the insider directly owned 15,192 shares in the company, valued at approximately $3,679,806.24. The trade was a 29.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,778 shares of company stock valued at $31,683,756. 0.34% of the stock is owned by company insiders.

Progressive Stock Down 0.8%

PGR stock opened at $218.93 on Friday. The company has a market cap of $128.34 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.26 and a beta of 0.32. The company has a fifty day moving average price of $241.10 and a 200 day moving average price of $256.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The Progressive Corporation has a 12 month low of $217.20 and a 12 month high of $292.99.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.64 billion. During the same period in the previous year, the business posted $3.58 earnings per share. Sell-side 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. Shareholders of record on Thursday, October 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, October 2nd. Progressive’s dividend payout ratio (DPR) is 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.