The Progressive Co. (NYSE:PGR) Shares Sold by Humankind Investments LLC

Humankind Investments LLC trimmed its holdings in shares of The Progressive Co. (NYSE:PGR) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,256 shares of the insurance provider’s stock after selling 40 shares during the quarter. Humankind Investments LLC’s holdings in Progressive were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Webster Bank N. A. acquired a new position in Progressive during the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in Progressive in the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after buying an additional 41 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in Progressive during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, February 28th. The stock was sold at an average price of $279.94, for a total value of $2,799,400.00. Following the completion of the transaction, the chief financial officer now directly owns 269,566 shares in the company, valued at approximately $75,462,306.04. This trade represents a 3.58 % 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, Director Devin C. Johnson sold 400 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total value of $110,016.00. Following the sale, the director now owns 8,370 shares in the company, valued at approximately $2,302,084.80. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,894 shares of company stock valued at $11,020,097 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of PGR opened at $284.33 on Friday. The firm has a 50-day simple moving average of $275.16 and a two-hundred day simple moving average of $260.37. The stock has a market cap of $166.68 billion, a PE ratio of 19.75, a P/E/G ratio of 1.70 and a beta of 0.40. The Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.28 by $0.37. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The company had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. As a group, analysts forecast that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is currently 2.70%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PGR. Morgan Stanley boosted their price target on Progressive from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. increased their target price on shares of Progressive from $267.00 to $287.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Jefferies Financial Group dropped their price objective on shares of Progressive from $327.00 to $319.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Roth Mkm raised their target price on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.65.

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.