Mcdonald Capital Investors Inc. CA Has $174.62 Million Holdings in The Progressive Corporation $PGR

Mcdonald Capital Investors Inc. CA cut its holdings in The Progressive Corporation (NYSE:PGR) by 0.3% in the first quarter, Holdings Channel reports. The fund owned 880,863 shares of the insurance provider’s stock after selling 2,837 shares during the quarter. Progressive accounts for approximately 11.9% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its largest position. Mcdonald Capital Investors Inc. CA’s holdings in Progressive were worth $174,622,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PGR. Bogart Wealth LLC lifted its position in shares of Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares during the period. Bard Associates Inc. purchased a new position in Progressive during the fourth quarter valued at approximately $27,000. Dagco Inc. purchased a new position in Progressive during the fourth quarter valued at approximately $28,000. HHM Wealth Advisors LLC raised its stake in Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after buying an additional 126 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. purchased a new stake in Progressive during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 1.8%

Shares of NYSE:PGR opened at $234.84 on Tuesday. The business’s 50-day moving average is $207.57 and its 200 day moving average is $206.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $254.93. The firm has a market capitalization of $137.23 billion, a P/E ratio of 11.94, a P/E/G ratio of 4.36 and a beta of 0.26.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business 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. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that The Progressive Corporation will post 17.3 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, July 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%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PGR. Bank of America reduced their price target on Progressive from $331.00 to $313.00 and set a “buy” rating for the company in a research report on Thursday, June 18th. HSBC boosted their target price on shares of Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Royal Bank Of Canada set a $208.00 price target on shares of Progressive in a report on Friday, May 22nd. Jefferies Financial Group cut their price objective on shares of Progressive from $216.00 to $215.00 and set a “hold” rating on the stock in a research report on Tuesday, March 24th. Finally, UBS Group boosted their price objective on shares of Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Progressive presently has an average rating of “Hold” and an average price target of $238.05.

Insiders Place Their Bets

In other Progressive news, Director Jeffrey D. Kelly sold 7,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. This represents a 23.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,157 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the transaction, the insider directly owned 27,511 shares of the company’s stock, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their position. 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. In the last quarter, insiders have sold 15,230 shares of company stock valued at $3,165,817. Insiders own 0.32% of the company’s stock.

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.