The Progressive Corporation $PGR Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC trimmed its position in shares of The Progressive Corporation (NYSE:PGR) by 85.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,177 shares of the insurance provider’s stock after selling 7,033 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Progressive were worth $268,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PGR. Davis Capital Management acquired a new position in Progressive during the 3rd quarter worth approximately $25,000. Dagco Inc. purchased a new stake in shares of Progressive in the 4th quarter valued at approximately $28,000. Howard Hughes Medical Institute acquired a new stake in shares of Progressive in the 2nd quarter valued at $34,000. Ameriflex Group Inc. raised its holdings in shares of Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Finally, TruNorth Capital Management LLC lifted its position in shares of Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the subject of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a research note on Tuesday, March 24th. Morgan Stanley cut their price target on Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 28th. JPMorgan Chase & Co. lowered their price objective on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. BMO Capital Markets dropped their price objective on Progressive from $232.00 to $208.00 and set a “market perform” rating on the stock in a report on Wednesday, March 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $225.00 target price on shares of Progressive in a research report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $239.22.

Insider Activity at Progressive

In related news, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the sale, the insider directly owned 32,348 shares of the company’s stock, valued at $6,857,776. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew J. Quigg sold 1,649 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $336,973.15. Following the transaction, the insider owned 39,626 shares in the company, valued at $8,097,573.10. This represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 11,687 shares of company stock valued at $2,413,044. Corporate insiders own 0.34% of the company’s stock.

Progressive Trading Down 2.2%

NYSE PGR opened at $198.41 on Friday. The firm’s fifty day moving average price is $205.72 and its 200 day moving average price is $219.49. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $289.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $116.06 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 5.74 and a beta of 0.33.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive’s dividend payout ratio is currently 2.08%.

Progressive 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.