Impact Partnership Wealth LLC Has $1.88 Million Holdings in The Progressive Corporation $PGR

Impact Partnership Wealth LLC raised its position in The Progressive Corporation (NYSE:PGR) by 48.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,460 shares of the insurance provider’s stock after purchasing an additional 3,071 shares during the period. Impact Partnership Wealth LLC’s holdings in Progressive were worth $1,875,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bard Associates Inc. bought a new position in shares of Progressive in the 4th quarter worth about $27,000. Dagco Inc. bought a new stake in shares of Progressive during the 4th quarter valued at about $28,000. HHM Wealth Advisors LLC boosted its position in shares of Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 126 shares in the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in Progressive during the fourth quarter worth approximately $29,000. Finally, Ameriflex Group Inc. grew its stake in Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares during the period. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Progressive

In other news, Director Jeffrey D. Kelly sold 7,000 shares of Progressive stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the completion of the transaction, the director directly owned 22,546 shares in the company, valued at $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Broz sold 1,157 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $204.76, for a total transaction of $236,907.32. Following the sale, the insider directly owned 27,511 shares of the company’s stock, valued at approximately $5,633,152.36. The trade was a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 15,230 shares of company stock valued at $3,165,817. Corporate insiders own 0.32% of the company’s stock.

Progressive Trading Down 0.8%

Shares of Progressive stock opened at $218.17 on Wednesday. The stock has a market capitalization of $127.48 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 6.67 and a beta of 0.28. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $267.00. The stock has a 50 day moving average price of $202.48 and a two-hundred day moving average price of $206.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27.

Progressive (NYSE:PGR) last issued 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. 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 analyst estimates of $23.51 billion. During the same period in the prior year, the firm earned $4.37 earnings per share. Progressive’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that The Progressive Corporation will post 17.08 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PGR. Bank of America dropped their price target on Progressive from $331.00 to $313.00 and set a “buy” rating on the stock in a research note on Thursday, June 18th. Barclays set a $247.00 price objective on shares of Progressive in a research note on Wednesday, March 18th. Weiss Ratings downgraded shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Evercore reissued a “negative” rating on shares of Progressive in a research note on Wednesday, March 18th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $220.00 price target on shares of Progressive in a research note on Wednesday, May 20th. Six investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $237.37.

About Progressive

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.