The Progressive Corporation $PGR Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH reduced its position in The Progressive Corporation (NYSE:PGR) by 7.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 595,495 shares of the insurance provider’s stock after selling 49,030 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Progressive were worth $135,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Progressive by 0.3% during the third quarter. Vanguard Group Inc. now owns 54,667,528 shares of the insurance provider’s stock worth $13,500,146,000 after purchasing an additional 151,240 shares during the period. State Street Corp lifted its holdings in shares of Progressive by 0.3% during the third quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after purchasing an additional 78,374 shares during the period. Capital International Investors lifted its holdings in shares of Progressive by 78.9% during the third quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock worth $3,384,082,000 after purchasing an additional 6,045,732 shares during the period. Capital Research Global Investors lifted its holdings in shares of Progressive by 26.1% during the third quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock worth $2,757,905,000 after purchasing an additional 2,314,864 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Progressive by 4.9% during the third quarter. Legal & General Group Plc now owns 4,196,111 shares of the insurance provider’s stock worth $1,036,230,000 after purchasing an additional 197,603 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Progressive news, insider Karen Bailo sold 3,517 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Carl G. Joyce sold 270 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were 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 directly owned 558 shares of the company’s stock, valued at approximately $115,227. This trade represents a 32.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,933 shares of company stock worth $1,441,564 in the last ninety days. 0.32% of the stock is owned by insiders.

Progressive Price Performance

Progressive stock opened at $207.77 on Wednesday. The Progressive Corporation has a one year low of $192.02 and a one year high of $289.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.35 and a current ratio of 0.33. The business has a fifty day moving average of $203.58 and a two-hundred day moving average of $213.91. The company has a market cap of $121.54 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 6.73 and a beta of 0.34.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $23.51 billion. During the same quarter last year, the company earned $4.37 earnings per share. Progressive’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that The Progressive Corporation will post 16.37 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup decreased their price target on Progressive from $300.60 to $261.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $259.00 price target on shares of Progressive in a report on Monday, March 2nd. Roth Mkm set a $235.00 price target on Progressive in a report on Thursday, February 19th. Bank of America increased their price target on Progressive from $295.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Argus raised 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 given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $238.39.

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.