Liontrust Investment Partners LLP Sells 26,259 Shares of The Progressive Corporation $PGR

Liontrust Investment Partners LLP cut its holdings in The Progressive Corporation (NYSE:PGR) by 7.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 311,050 shares of the insurance provider’s stock after selling 26,259 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Progressive were worth $61,663,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Bogart Wealth LLC raised its holdings in shares of Progressive by 235.1% during the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares during the period. Bard Associates Inc. bought a new stake in Progressive in the 4th quarter valued at $27,000. IFC & Insurance Marketing Inc. acquired a new position in Progressive in the 4th quarter worth $29,000. HHM Wealth Advisors LLC boosted its stake in Progressive by 700.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 126 shares during the period. Finally, Entrust Financial LLC bought a new position in Progressive during the 4th quarter worth about $33,000. 85.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent research reports. BMO Capital Markets dropped their price target on Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, July 16th. Bank of America decreased their price objective on Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Royal Bank Of Canada set a $208.00 target price on Progressive in a research report on Friday, May 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $250.00 target price on shares of Progressive in a research note on Tuesday, July 14th. Finally, Weiss Ratings cut Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Progressive has an average rating of “Hold” and a consensus target price of $236.11.

Progressive Price Performance

Shares of NYSE PGR opened at $213.09 on Friday. The stock has a market capitalization of $124.52 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.96 and a beta of 0.26. The business has a 50-day moving average of $211.09 and a 200-day moving average of $206.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27. The Progressive Corporation has a fifty-two week low of $189.20 and a fifty-two week high of $254.93.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.01%.

Insider Transactions at Progressive

In other news, insider John Jo Murphy sold 8,124 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $212.70, for a total value of $1,727,974.80. Following the completion of the sale, the insider owned 41,291 shares of the company’s stock, valued at approximately $8,782,595.70. This represents a 16.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Bailo sold 8,452 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $212.71, for a total transaction of $1,797,824.92. Following the transaction, the insider owned 32,348 shares in the company, valued at approximately $6,880,743.08. The trade was a 20.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 74,885 shares of company stock valued at $15,880,459. 0.32% of the stock is owned by insiders.

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.