Blair William & Co. IL Sells 32,124 Shares of The Progressive Corporation $PGR

Blair William & Co. IL lessened its position in The Progressive Corporation (NYSE:PGR) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,407,032 shares of the insurance provider’s stock after selling 32,124 shares during the period. Progressive accounts for about 0.9% of Blair William & Co. IL’s portfolio, making the stock its 20th biggest holding. Blair William & Co. IL owned about 0.24% of Progressive worth $320,409,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Klingman & Associates LLC grew its holdings in shares of Progressive by 1.7% during the fourth quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider’s stock worth $667,000 after purchasing an additional 48 shares during the last quarter. Revisor Wealth Management LLC raised its holdings in Progressive by 2.7% in the 4th quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider’s stock valued at $395,000 after buying an additional 50 shares during the last quarter. Cullen Investment Group LTD. boosted its position in Progressive by 0.7% during the 4th quarter. Cullen Investment Group LTD. now owns 7,463 shares of the insurance provider’s stock worth $1,606,000 after buying an additional 52 shares during the period. Pines Wealth Management LLC boosted its position in Progressive by 3.9% during the 4th quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider’s stock worth $319,000 after buying an additional 52 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in Progressive by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider’s stock worth $4,267,000 after acquiring an additional 52 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PGR has been the subject of several recent research reports. UBS Group upped their price target on shares of Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, March 23rd. Roth Mkm set a $235.00 price target on shares of Progressive in a report on Thursday, February 19th. BMO Capital Markets reissued a “market perform” rating and issued a $220.00 price objective on shares of Progressive in a research note on Wednesday, May 20th. The Goldman Sachs Group restated a “buy” rating and issued a $225.00 price objective on shares of Progressive in a report on Monday, February 23rd. Finally, Barclays set a $247.00 target price on Progressive in a research report on Wednesday, March 18th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $238.11.

Insider Transactions at Progressive

In related news, insider John Jo Murphy sold 5,916 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the sale, the insider owned 41,290 shares of the company’s stock, valued at $8,258,000. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Carl G. Joyce sold 270 shares of Progressive 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 completion of the sale, the chief accounting officer owned 558 shares of the company’s stock, valued at approximately $115,227. The trade was a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 7,343 shares of company stock valued at $1,470,355. Corporate insiders own 0.32% of the company’s stock.

Progressive Trading Up 0.6%

NYSE:PGR opened at $204.70 on Wednesday. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $267.92. 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 fifty day moving average is $199.56 and its 200-day moving average is $207.60. The firm has a market cap of $119.61 billion, a P/E ratio of 10.41, a P/E/G ratio of 5.90 and a beta of 0.28.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. Progressive’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.37 earnings per share. Equities analysts expect that The Progressive Corporation will post 16.35 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.03%.

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.