345,494 The Progressive Corporation $PGR Shares Sold by James Hambro & Partners LLP

James Hambro & Partners LLP lessened its holdings in The Progressive Corporation (NYSE:PGR) by 98.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,011 shares of the insurance provider’s stock after selling 345,494 shares during the quarter. James Hambro & Partners LLP’s holdings in Progressive were worth $1,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Progressive during the 2nd quarter worth $10,496,271,000. Bank of America Corp DE bought a new stake in shares of Progressive during the 2nd quarter worth $2,682,342,000. GQG Partners LLC acquired a new stake in Progressive in the second quarter valued at about $1,538,570,000. Deutsche Bank AG acquired a new stake in Progressive in the second quarter valued at about $1,098,838,000. Finally, Jupiter Topco LLC acquired a new stake in Progressive in the second quarter valued at about $935,172,000. Institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Progressive from $201.00 to $196.00 and set an “underweight” rating on the stock in a research report on Thursday. Roth Capital reissued a “buy” rating and issued a $245.00 target price (up from $235.00) on shares of Progressive in a report on Thursday, August 20th. Piper Sandler raised their price target on shares of Progressive from $241.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. UBS Group restated a “neutral” rating and issued a $238.00 price target on shares of Progressive in a research note on Monday. Finally, Barclays lifted their price target on shares of Progressive from $246.00 to $247.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $234.45.

Insiders Place Their Bets

In other Progressive news, CEO Susan Griffith sold 37,338 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $219.50, for a total value of $8,195,691.00. Following the completion of the transaction, the chief executive officer owned 485,438 shares of the company’s stock, valued at $106,553,641. This represents a 7.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lori Niederst sold 7,339 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $209.29, for a total value of $1,535,979.31. Following the completion of the transaction, the insider owned 42,567 shares of the company’s stock, valued at $8,908,847.43. This represents a 14.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 106,782 shares of company stock worth $22,965,332. Company insiders own 0.32% of the company’s stock.

Progressive Price Performance

Shares of NYSE:PGR traded down $0.41 during trading on Monday, hitting $218.08. 874,934 shares of the company were exchanged, compared to its average volume of 3,089,458. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $239.38. The company has a market capitalization of $126.79 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 2.63 and a beta of 0.25. The company has a quick ratio of 0.29, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $214.78 and its 200-day moving average is $209.49.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were given a dividend of $0.10 per share. The ex-dividend date was Thursday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s payout ratio is currently 2.01%.

Progressive Company Profile

Progressive Corporation is an insurance holding company headquartered in Mayfield Village, Ohio. Founded in 1937, the company provides insurance products primarily to consumers and businesses in the United States. Progressive distributes its products directly through its website, mobile channels and call centers, as well as through independent agents and brokers.

The company is best known for personal auto insurance, including coverage for cars, motorcycles, boats, recreational vehicles and other personal vehicles.