Hantz Financial Services Inc. Sells 53 Shares of The Progressive Corporation $PGR

Hantz Financial Services Inc. lessened its position in shares of The Progressive Corporation (NYSE:PGR) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,597 shares of the insurance provider’s stock after selling 53 shares during the period. Hantz Financial Services Inc.’s holdings in Progressive were worth $6,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Progressive by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 54,022,956 shares of the insurance provider’s stock worth $15,289,037,000 after acquiring an additional 622,590 shares during the period. GQG Partners LLC grew its holdings in shares of Progressive by 61.4% during the 1st quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock valued at $2,362,039,000 after purchasing an additional 3,174,632 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Progressive by 15.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider’s stock valued at $2,338,556,000 after purchasing an additional 1,091,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Progressive by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,380,134 shares of the insurance provider’s stock valued at $1,805,642,000 after buying an additional 396,567 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Progressive in the first quarter valued at approximately $1,473,180,000. Institutional investors own 85.34% of the company’s stock.

Insiders Place Their Bets

In other Progressive news, insider John Jo Murphy sold 2,218 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 value of $536,977.80. Following the completion of the sale, the insider directly owned 43,506 shares of the company’s stock, valued at approximately $10,532,802.60. The trade was a 4.85% 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, CEO Susan Patricia Griffith sold 30,659 shares of Progressive stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the completion of the sale, the chief executive officer directly owned 476,286 shares of the company’s stock, valued at approximately $117,194,933.16. This trade represents a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 58,500 shares of company stock valued at $14,430,089 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Progressive Price Performance

PGR stock opened at $206.71 on Friday. The firm has a market cap of $121.18 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.19 and a beta of 0.32. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The Progressive Corporation has a 12-month low of $206.41 and a 12-month high of $292.99. The company’s fifty day simple moving average is $237.97 and its 200 day simple moving average is $254.67.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing the consensus estimate of $5.04 by ($0.59). The business 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 prior year, the business earned $3.58 EPS. On average, analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets cut their target price 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. Wolfe Research assumed coverage on shares of Progressive in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group cut their target price on shares of Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Cantor Fitzgerald upgraded shares of Progressive to a “hold” rating in a research report on Wednesday, August 13th. Finally, The Goldman Sachs Group cut 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. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $268.90.

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.