The Progressive Co. (NYSE:PGR) Stock Position Trimmed by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its stake in shares of The Progressive Co. (NYSE:PGR) by 36.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,955 shares of the insurance provider’s stock after selling 53,832 shares during the period. Leeward Investments LLC MA’s holdings in Progressive were worth $14,806,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Giverny Capital Inc. increased its stake in Progressive by 2.9% during the 3rd quarter. Giverny Capital Inc. now owns 501,431 shares of the insurance provider’s stock valued at $69,849,000 after buying an additional 14,022 shares during the period. AIA Group Ltd raised its holdings in shares of Progressive by 4.9% in the 3rd quarter. AIA Group Ltd now owns 155,427 shares of the insurance provider’s stock worth $21,651,000 after purchasing an additional 7,268 shares in the last quarter. Invesco LLC raised its holdings in shares of Progressive by 2.0% in the 4th quarter. Invesco LLC now owns 3,537 shares of the insurance provider’s stock worth $563,000 after purchasing an additional 70 shares in the last quarter. Strs Ohio raised its holdings in shares of Progressive by 3.1% in the 4th quarter. Strs Ohio now owns 168,187 shares of the insurance provider’s stock worth $26,788,000 after purchasing an additional 4,983 shares in the last quarter. Finally, First Affirmative Financial Network bought a new stake in shares of Progressive in the 4th quarter worth approximately $295,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity

In other news, insider Patrick K. Callahan sold 29,675 shares of Progressive stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the sale, the insider now directly owns 15,189 shares in the company, valued at $2,889,859.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karen Bailo sold 8,464 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the transaction, the insider now directly owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The disclosure for this sale can be found here. Insiders have sold 39,139 shares of company stock worth $7,458,139 over the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $208.00 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36. The company has a market capitalization of $121.83 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 0.82 and a beta of 0.35. The company’s 50 day moving average price is $202.45 and its two-hundred day moving average price is $177.51. The Progressive Co. has a 52 week low of $111.41 and a 52 week high of $216.21.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The company had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, analysts expect that The Progressive Co. will post 11.34 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

Analyst Ratings Changes

PGR has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $240.00 target price on shares of Progressive in a report on Monday, April 1st. The Goldman Sachs Group boosted their price target on shares of Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday, March 25th. BMO Capital Markets boosted their price target on shares of Progressive from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Jefferies Financial Group boosted their price target on shares of Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Bank of America cut their price target on shares of Progressive from $279.00 to $273.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $211.88.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.