The Progressive Corporation $PGR Stock Holdings Lifted by Xponance LLC

Xponance LLC lifted its holdings in The Progressive Corporation (NYSE:PGR) by 4.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 124,790 shares of the insurance provider’s stock after buying an additional 5,202 shares during the quarter. Xponance LLC’s holdings in Progressive were worth $28,417,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock worth $12,584,067,000 after buying an additional 593,612 shares during the last quarter. State Street Corp increased its holdings in shares of Progressive by 0.3% in the 3rd quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after acquiring an additional 78,374 shares during the period. Capital International Investors increased its holdings in shares of Progressive by 8.9% in the 4th quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock worth $3,398,123,000 after acquiring an additional 1,217,527 shares during the period. Capital Research Global Investors increased its holdings in shares of Progressive by 26.1% in the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock worth $2,757,905,000 after acquiring an additional 2,314,864 shares during the period. Finally, Norges Bank acquired a new stake in shares of Progressive in the 4th quarter worth about $1,836,094,000. 85.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progressive

In other news, CAO Carl G. Joyce sold 270 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the transaction, the chief accounting officer owned 558 shares in the company, valued at approximately $115,227. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven Broz sold 1,157 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $231,400.00. Following the transaction, the insider owned 28,668 shares of the company’s stock, valued at approximately $5,733,600. This trade represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,343 shares of company stock valued at $1,470,355. Company insiders own 0.32% of the company’s stock.

Progressive Stock Down 0.9%

Progressive stock opened at $202.41 on Friday. The stock has a market cap of $118.27 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 5.92 and a beta of 0.28. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $199.01 and its two-hundred day moving average price is $208.09. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $269.84.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. Progressive’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $4.37 EPS. On average, analysts expect that The Progressive Corporation will post 16.35 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.03%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PGR shares. Weiss Ratings cut shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Jefferies Financial Group dropped their price objective on shares of Progressive from $216.00 to $215.00 and set a “hold” rating on the stock in a report on Tuesday, March 24th. UBS Group increased their price objective on shares of Progressive from $218.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, March 23rd. Roth Mkm set a $235.00 price objective on shares of Progressive in a report on Thursday, February 19th. Finally, Royal Bank Of Canada set a $208.00 price objective on shares of Progressive in a report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Progressive has an average rating of “Hold” and an average target price of $238.11.

Progressive Company 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.