The Progressive Co. (NYSE:PGR) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. reduced its stake in The Progressive Co. (NYSE:PGRFree Report) by 6.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,692 shares of the insurance provider’s stock after selling 274 shares during the period. Flputnam Investment Management Co.’s holdings in Progressive were worth $588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGR. Invesco LLC boosted its holdings in Progressive by 2.0% in 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 in the last quarter. Mcdonald Capital Investors Inc. CA boosted its holdings in shares of Progressive by 0.9% in the fourth quarter. Mcdonald Capital Investors Inc. CA now owns 1,388,686 shares of the insurance provider’s stock valued at $221,190,000 after acquiring an additional 11,765 shares during the period. Cullen Investment Group LTD. purchased a new stake in shares of Progressive during the fourth quarter worth approximately $1,546,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Progressive during the fourth quarter worth approximately $48,000. Finally, MBM Wealth Consultants LLC raised its stake in shares of Progressive by 223.4% during the fourth quarter. MBM Wealth Consultants LLC now owns 5,982 shares of the insurance provider’s stock worth $953,000 after purchasing an additional 4,132 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Stock Up 0.4 %

Shares of Progressive stock opened at $209.12 on Thursday. The stock has a market capitalization of $122.48 billion, a P/E ratio of 21.40, a PEG ratio of 0.84 and a beta of 0.35. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $198.74 and a two-hundred day moving average price of $174.33. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $212.24.

Progressive (NYSE:PGRGet Free Report) last announced its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. Equities analysts expect that The Progressive Co. will post 11.09 earnings per share for the current year.

Progressive Dividend Announcement

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

Insider Buying and Selling

In related news, insider Karen Bailo sold 8,464 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total value of $1,603,843.36. Following the completion of the transaction, the insider now directly owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Karen Bailo sold 8,464 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total value of $1,603,843.36. Following the completion of the transaction, the insider now directly owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on PGR. Piper Sandler restated an “overweight” rating and set a $240.00 price target on shares of Progressive in a research note on Monday, April 1st. The Goldman Sachs Group increased their price objective on Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. TD Cowen started coverage on Progressive in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $174.00 price objective for the company. HSBC raised their price target on Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Wells Fargo & Company raised their price target on Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Progressive currently has an average rating of “Hold” and an average price target of $211.88.

View Our Latest Analysis on Progressive

Progressive Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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