The Progressive Corporation $PGR Shares Sold by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. reduced its stake in shares of The Progressive Corporation (NYSE:PGR) by 15.4% during the 4th quarter, HoldingsChannel reports. The firm owned 14,287 shares of the insurance provider’s stock after selling 2,603 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Progressive were worth $3,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dagco Inc. acquired a new position in shares of Progressive during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. boosted its holdings in shares of Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Entrust Financial LLC acquired a new position in shares of Progressive during the 4th quarter worth approximately $33,000. Kingdom Financial Group LLC. acquired a new position in shares of Progressive during the 4th quarter worth approximately $34,000. Finally, Bangor Savings Bank boosted its holdings in shares of Progressive by 60.4% during the 4th quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 58 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent research reports. Royal Bank Of Canada set a $208.00 target price on Progressive in a report on Friday. Piper Sandler restated an “overweight” rating and set a $259.00 target price on shares of Progressive in a report on Monday, March 2nd. Roth Mkm set a $235.00 target price on Progressive in a report on Thursday, February 19th. UBS Group boosted their target price on Progressive from $218.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, March 23rd. Finally, Argus upgraded Progressive to a “hold” rating in a report on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $238.11.

Progressive Stock Down 0.1%

PGR stock opened at $199.28 on Monday. The firm has a market cap of $116.45 billion, a PE ratio of 10.13, a PEG ratio of 7.30 and a beta of 0.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50 day moving average price is $200.46 and its 200-day moving average price is $210.26. The Progressive Corporation has a one year low of $191.75 and a one year high of $289.96.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.37 EPS. On average, equities research analysts anticipate that The Progressive Corporation will post 16.36 EPS for the current year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s payout ratio is presently 2.03%.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Carl G. Joyce sold 270 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the sale, the chief accounting officer owned 558 shares of the company’s stock, valued at $115,227. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karen Bailo sold 3,517 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were 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 in the company, valued at approximately $6,857,776. The trade was a 9.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,667 shares of company stock valued at $981,453 over the last quarter. 0.32% of the stock is owned by company insiders.

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.