The Progressive Corporation $PGR Holdings Decreased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 5.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,836 shares of the insurance provider’s stock after selling 153 shares during the period. Impact Partnership Wealth LLC’s holdings in Progressive were worth $757,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PGR. TruNorth Capital Management LLC raised its holdings in shares of Progressive by 210.0% during the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Ransom Advisory Ltd bought a new position in Progressive during the first quarter valued at approximately $35,000. Activest Wealth Management lifted its stake in Progressive by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 127 shares during the last quarter. Richardson Financial Services Inc. increased its stake in shares of Progressive by 1,885.7% during the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 132 shares during the last quarter. Finally, Accent Capital Management LLC bought a new position in shares of Progressive during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 1.9%

NYSE PGR opened at $207.84 on Thursday. The Progressive Corporation has a twelve month low of $206.58 and a twelve month high of $292.99. The stock has a market cap of $121.84 billion, a PE ratio of 11.40, a PEG ratio of 1.22 and a beta of 0.32. The firm has a 50-day simple moving average of $238.82 and a 200 day simple moving average of $255.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate of $5.04 by ($0.59). The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period in the previous year, the business posted $3.58 EPS. On average, research analysts forecast that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Progressive from $276.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup lowered their price target on Progressive from $312.00 to $301.38 and set a “buy” rating on the stock in a report on Thursday, October 16th. Weiss Ratings restated a “buy (b)” rating on shares of Progressive in a research note on Wednesday, October 8th. Raymond James Financial lowered their target price on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, Cantor Fitzgerald raised shares of Progressive to a “hold” rating in a research report on Wednesday, August 13th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $268.90.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the completion of the transaction, the chief executive officer directly owned 476,286 shares in the company, valued at $117,194,933.16. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Jo Murphy sold 2,218 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the sale, the insider directly owned 43,506 shares in the company, valued at approximately $10,532,802.60. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 58,500 shares of company stock valued at $14,430,089. 0.34% of the stock is owned by insiders.

About Progressive

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.