Fieldview Capital Management LLC Has $952,000 Stock Holdings in The Progressive Corporation $PGR

Fieldview Capital Management LLC cut its holdings in The Progressive Corporation (NYSE:PGR) by 78.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,179 shares of the insurance provider’s stock after selling 15,049 shares during the quarter. Fieldview Capital Management LLC’s holdings in Progressive were worth $952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PGR. Brighton Jones LLC grew its position in shares of Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after purchasing an additional 457 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of Progressive in the 4th quarter valued at approximately $269,000. Bison Wealth LLC grew its position in shares of Progressive by 3.2% in the 4th 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. HUB Investment Partners LLC grew its position in shares of Progressive by 7.8% in the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock valued at $609,000 after purchasing an additional 166 shares during the period. Finally, Diversify Wealth Management LLC grew its position in shares of Progressive by 12.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after purchasing an additional 1,622 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In other news, insider John Jo Murphy sold 5,916 shares of the company’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 sale, the insider owned 41,290 shares in the company, valued at $8,258,000. This represents a 12.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of the company’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 value of $231,400.00. Following the sale, the insider owned 28,668 shares in the company, valued at approximately $5,733,600. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,343 shares of company stock worth $1,470,355 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $220.00 price objective on shares of Progressive in a research report on Wednesday, May 20th. Wells Fargo & Company boosted their target price on Progressive from $218.00 to $222.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. UBS Group boosted their target price on Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Argus upgraded Progressive to a “hold” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group cut their target price on Progressive from $216.00 to $215.00 and set a “hold” rating on the stock in a research note on Tuesday, March 24th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Progressive currently has a consensus rating of “Hold” and an average price target of $238.11.

Progressive Trading Down 0.1%

NYSE PGR opened at $202.86 on Monday. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $269.84. The stock has a market capitalization of $118.54 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 5.89 and a beta of 0.28. 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 stock’s 50 day moving average price is $199.20 and its two-hundred day moving average price is $207.93.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same quarter in the prior year, the business posted $4.37 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that The Progressive Corporation will post 16.35 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.03%.

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.