Blair William & Co. IL Sells 66,265 Shares of The Progressive Corporation $PGR

Blair William & Co. IL decreased its position in The Progressive Corporation (NYSE:PGR) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439,156 shares of the insurance provider’s stock after selling 66,265 shares during the period. Progressive makes up approximately 0.9% of Blair William & Co. IL’s holdings, making the stock its 18th biggest position. Blair William & Co. IL’s holdings in Progressive were worth $355,400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Davis Capital Management bought a new stake in Progressive in the 3rd quarter worth about $25,000. Atlantic Union Bankshares Corp bought a new position in Progressive during the 2nd quarter valued at about $33,000. Howard Hughes Medical Institute purchased a new stake in shares of Progressive during the 2nd quarter valued at about $34,000. TruNorth Capital Management LLC grew its stake in shares of Progressive by 450.0% in the third quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 135 shares during the period. Finally, Richardson Financial Services Inc. raised its holdings in shares of Progressive by 41.0% during the third quarter. Richardson Financial Services Inc. now owns 196 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 57 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Trading Up 0.2%

Shares of PGR stock opened at $210.92 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $123.58 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 9.20 and a beta of 0.33. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99. The stock’s 50-day moving average price is $208.98 and its 200-day moving average price is $224.16.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is presently 2.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PGR shares. UBS Group dropped their target price on shares of Progressive from $226.00 to $218.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Roth Mkm set a $235.00 price target on Progressive in a report on Thursday, February 19th. Mizuho set a $240.00 price objective on Progressive in a report on Wednesday, January 14th. Piper Sandler reiterated an “overweight” rating and set a $259.00 price objective on shares of Progressive in a research report on Monday. Finally, Wells Fargo & Company lowered their target price on Progressive from $220.00 to $214.00 and set an “equal weight” rating on the stock in a report on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $245.50.

Insider Buying and Selling at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 3,105 shares of Progressive stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the transaction, the executive directly owned 26,249 shares of the company’s stock, valued at $5,363,983.15. This trade represents a 10.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the sale, the insider owned 39,626 shares in the company, valued at $8,097,573.10. This represents a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,103 shares of company stock worth $1,883,924 over the last three months. 0.34% of the stock is owned by company insiders.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.