Progressive Corp (NYSE:PGR) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its holdings in Progressive Corp (NYSE:PGR) by 5.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,424 shares of the insurance provider’s stock after selling 4,450 shares during the period. Advisors Asset Management Inc.’s holdings in Progressive were worth $5,388,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PGR. Pinnacle Associates Ltd. grew its holdings in Progressive by 0.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 35,055 shares of the insurance provider’s stock worth $2,538,000 after acquiring an additional 125 shares in the last quarter. Carroll Financial Associates Inc. grew its holdings in Progressive by 26.6% during the 4th quarter. Carroll Financial Associates Inc. now owns 647 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 136 shares in the last quarter. Coastline Trust Co grew its holdings in Progressive by 1.3% during the 4th quarter. Coastline Trust Co now owns 12,370 shares of the insurance provider’s stock worth $895,000 after acquiring an additional 156 shares in the last quarter. Waldron Private Wealth LLC grew its holdings in Progressive by 0.4% during the 4th quarter. Waldron Private Wealth LLC now owns 44,312 shares of the insurance provider’s stock worth $3,207,000 after acquiring an additional 170 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Progressive by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,648 shares of the insurance provider’s stock worth $2,725,000 after acquiring an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Several research analysts have recently issued reports on the stock. Wells Fargo & Co restated a “hold” rating on shares of Progressive in a report on Wednesday, February 19th. Morgan Stanley upped their target price on shares of Progressive from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Raymond James cut shares of Progressive from a “strong-buy” rating to an “outperform” rating and set a $85.00 target price for the company. in a report on Monday, January 13th. Citigroup assumed coverage on shares of Progressive in a report on Tuesday, January 21st. They issued a “buy” rating and a $85.00 target price for the company. Finally, Piper Sandler lowered their target price on shares of Progressive from $90.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, March 11th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $82.44.

PGR stock opened at $69.95 on Thursday. The company has a fifty day moving average price of $78.28 and a 200 day moving average price of $74.82. Progressive Corp has a 12 month low of $62.18 and a 12 month high of $84.96. The company has a market cap of $38.95 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.36 and a quick ratio of 0.36.

Progressive (NYSE:PGR) last released its quarterly earnings results on Monday, March 2nd. The insurance provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.16 by $0.02. Progressive had a net margin of 10.17% and a return on equity of 30.98%. As a group, analysts anticipate that Progressive Corp will post 5.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, April 7th will be given a $0.10 dividend. The ex-dividend date is Monday, April 6th. This represents a $0.40 annualized dividend and a yield of 0.57%. Progressive’s dividend payout ratio (DPR) is 5.95%.

In related news, insider Michael D. Sieger sold 3,356 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $75.00, for a total value of $251,700.00. Following the completion of the sale, the insider now owns 51,019 shares in the company, valued at approximately $3,826,425. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Sieger sold 3,687 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $73.52, for a total transaction of $271,068.24. Following the completion of the sale, the insider now owns 51,019 shares of the company’s stock, valued at approximately $3,750,916.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,203 shares of company stock valued at $1,865,255. 0.39% of the stock is owned by insiders.

Progressive Company Profile

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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