J. Safra Sarasin Holding AG Has $4.06 Million Stock Holdings in The Progressive Corporation $PGR

J. Safra Sarasin Holding AG grew its position in The Progressive Corporation (NYSE:PGR) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,199 shares of the insurance provider’s stock after buying an additional 122 shares during the period. J. Safra Sarasin Holding AG’s holdings in Progressive were worth $4,056,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PGR. Highline Wealth Partners LLC lifted its holdings in Progressive by 114.0% during the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 49 shares in the last quarter. TruNorth Capital Management LLC lifted its holdings in shares of Progressive by 210.0% during the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. HWG Holdings LP acquired a new position in shares of Progressive in the 1st quarter valued at approximately $28,000. Garde Capital Inc. acquired a new position in shares of Progressive in the 1st quarter valued at approximately $33,000. Finally, Ransom Advisory Ltd bought a new stake in Progressive during the 1st quarter worth approximately $35,000. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $243.47 on Friday. The Progressive Corporation has a 52-week low of $228.54 and a 52-week high of $292.99. The company has a market cap of $142.73 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.37 and a beta of 0.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day simple moving average is $245.23 and its 200 day simple moving average is $261.09.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.45. Progressive had a return on equity of 35.37% and a net margin of 12.66%.The firm had revenue of $20.08 billion for the quarter, compared to analyst estimates of $20.39 billion. During the same quarter in the previous year, the firm earned $2.48 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 2nd. Progressive’s dividend payout ratio is 2.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PGR shares. Cantor Fitzgerald upgraded shares of Progressive to a “hold” rating in a report on Wednesday, August 13th. Morgan Stanley reduced their target price on shares of Progressive from $267.00 to $265.00 and set an “equal weight” rating for the company in a research note on Monday, September 22nd. BMO Capital Markets set a $252.00 price target on Progressive in a research note on Thursday, September 18th. Jefferies Financial Group reduced their price objective on Progressive from $309.00 to $287.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $265.00 target price (down previously from $327.00) on shares of Progressive in a research report on Thursday, September 18th. Six analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus price target of $279.63.

Insider Transactions at Progressive

In related news, insider Lori A. Niederst sold 8,063 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $250.18, for a total value of $2,017,201.34. Following the completion of the sale, the insider directly owned 39,040 shares in the company, valued at approximately $9,767,027.20. This trade represents a 17.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the transaction, the insider directly owned 15,192 shares in the company, valued at approximately $3,679,806.24. This trade represents a 29.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,045 shares of company stock valued at $31,997,390. 0.34% of the stock is owned by company insiders.

Progressive Company 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.