Brookwood Investment Group LLC Has $717,000 Holdings in The Progressive Corporation $PGR

Brookwood Investment Group LLC cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 35.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,687 shares of the insurance provider’s stock after selling 1,457 shares during the period. Brookwood Investment Group LLC’s holdings in Progressive were worth $717,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PGR. Banco Santander S.A. increased its holdings in shares of Progressive by 1.2% during the second quarter. Banco Santander S.A. now owns 87,652 shares of the insurance provider’s stock worth $23,391,000 after purchasing an additional 1,015 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Progressive by 16.1% during the second quarter. Ashton Thomas Private Wealth LLC now owns 5,990 shares of the insurance provider’s stock worth $1,599,000 after purchasing an additional 832 shares during the period. Solstein Capital LLC bought a new position in shares of Progressive during the second quarter worth approximately $62,000. Envestnet Asset Management Inc. increased its holdings in shares of Progressive by 1.3% during the second quarter. Envestnet Asset Management Inc. now owns 1,798,916 shares of the insurance provider’s stock worth $479,946,000 after purchasing an additional 22,382 shares during the period. Finally, Chilton Capital Management LLC increased its holdings in shares of Progressive by 51.0% during the second quarter. Chilton Capital Management LLC now owns 823 shares of the insurance provider’s stock worth $220,000 after purchasing an additional 278 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PGR has been the topic of several recent research reports. Cantor Fitzgerald raised shares of Progressive to a “hold” rating in a report on Wednesday, August 13th. Zacks Research lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Barclays reduced their price target on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. BMO Capital Markets reduced their price target on shares of Progressive from $252.00 to $247.00 and set a “market perform” rating on the stock in a research report on Thursday, October 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $245.00 price target on shares of Progressive in a research report on Monday. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Progressive has an average rating of “Hold” and a consensus target price of $268.90.

Progressive Stock Performance

Shares of Progressive stock opened at $216.29 on Tuesday. The Progressive Corporation has a fifty-two week low of $216.10 and a fifty-two week high of $292.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The firm has a market capitalization of $126.79 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.26 and a beta of 0.32. The company’s 50 day moving average price is $240.48 and its two-hundred day moving average price is $255.91.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a net margin of 12.57% and a return on equity of 33.88%. The company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.64 billion. During the same quarter in the prior year, the business earned $3.58 EPS. On average, equities analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, October 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is currently 2.19%.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 1,345 shares of Progressive stock in a transaction on Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $325,624.50. Following the transaction, the insider owned 30,388 shares in the company, valued at approximately $7,356,934.80. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lori A. Niederst sold 8,063 shares of Progressive stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $250.18, for a total transaction of $2,017,201.34. Following the transaction, the insider owned 39,040 shares in the company, valued at approximately $9,767,027.20. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,500 shares of company stock valued at $14,430,089. Corporate insiders own 0.34% of the company’s stock.

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.