The Progressive Co. (NYSE:PGR) Position Increased by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC raised its stake in The Progressive Co. (NYSE:PGR) by 56.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 483 shares of the insurance provider’s stock after buying an additional 175 shares during the period. Capital Advisors Ltd. LLC’s holdings in Progressive were worth $100,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Indiana Trust & Investment Management CO purchased a new position in Progressive in the 1st quarter worth about $32,000. Sachetta LLC acquired a new stake in shares of Progressive during the fourth quarter valued at approximately $25,000. Northwest Bank & Trust Co purchased a new stake in shares of Progressive in the 4th quarter valued at approximately $25,000. Register Financial Advisors LLC acquired a new position in Progressive in the 1st quarter worth approximately $35,000. Finally, Valley National Advisers Inc. grew its position in Progressive by 143.6% during the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

NYSE:PGR opened at $211.12 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $209.42 and a 200 day moving average price of $194.23. The firm has a market capitalization of $123.65 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.35. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $217.77.

Progressive (NYSE:PGR) last issued 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. The business had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. Progressive’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Research analysts anticipate that The Progressive Co. will post 11.27 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd will be paid a $0.10 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. Progressive’s dividend payout ratio is presently 4.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PGR. Roth Mkm restated a “buy” rating and issued a $235.00 target price on shares of Progressive in a report on Wednesday, June 26th. BMO Capital Markets reiterated an “outperform” rating and set a $235.00 price objective on shares of Progressive in a report on Monday, June 17th. Bank of America boosted their target price on Progressive from $279.00 to $286.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Keefe, Bruyette & Woods lifted their price target on Progressive from $190.00 to $200.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their price target on Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $216.81.

Insider Transactions at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $210.40, for a total transaction of $2,104,000.00. Following the completion of the transaction, the chief financial officer now directly owns 302,958 shares of the company’s stock, valued at approximately $63,742,363.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Progressive news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, June 28th. The stock was sold at an average price of $210.40, for a total value of $2,104,000.00. Following the completion of the transaction, the chief financial officer now owns 302,958 shares in the company, valued at approximately $63,742,363.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 650 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $208.11, for a total value of $135,271.50. Following the sale, the chief accounting officer now owns 3,981 shares in the company, valued at approximately $828,485.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,518 shares of company stock valued at $7,159,674. 0.34% of the stock is owned by insiders.

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.