The Progressive Corporation $PGR Shares Sold by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC decreased its holdings in The Progressive Corporation (NYSE:PGR) by 72.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,698 shares of the insurance provider’s stock after selling 14,832 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Progressive were worth $1,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after purchasing an additional 457 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Progressive in the 4th quarter valued at about $269,000. Bison Wealth LLC lifted its stake in shares of Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 80 shares during the period. Edgestream Partners L.P. boosted its holdings in Progressive by 420.0% during the second quarter. Edgestream Partners L.P. now owns 4,170 shares of the insurance provider’s stock worth $1,113,000 after buying an additional 3,368 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Progressive by 5.8% during the second quarter. Fisher Asset Management LLC now owns 9,236 shares of the insurance provider’s stock worth $2,465,000 after buying an additional 504 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

PGR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Progressive from $232.00 to $227.00 and set a “market perform” rating for the company in a report on Thursday, March 19th. Zacks Research raised Progressive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Argus upgraded Progressive to a “hold” rating in a report on Thursday, March 5th. HSBC downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Roth Mkm set a $235.00 price objective on Progressive in a report on Thursday, February 19th. 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 an average rating of “Hold” and a consensus target price of $238.39.

Insider Activity

In other Progressive news, insider Karen Bailo sold 3,517 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CIO Jonathan S. Bauer sold 3,105 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was 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 approximately $5,363,983.15. This trade represents a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 11,687 shares of company stock worth $2,413,044. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Performance

Shares of PGR opened at $195.14 on Friday. The Progressive Corporation has a 12-month low of $192.02 and a 12-month high of $289.96. The stock has a market cap of $114.15 billion, a P/E ratio of 10.14, a PEG ratio of 5.59 and a beta of 0.34. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $205.16 and a two-hundred day moving average of $218.27.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be 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 is Thursday, April 2nd. Progressive’s payout ratio is currently 2.08%.

About Progressive

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.