C WorldWide Group Holding A S Sells 150,517 Shares of The Progressive Corporation $PGR

C WorldWide Group Holding A S reduced its stake in shares of The Progressive Corporation (NYSE:PGR) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 749,564 shares of the insurance provider’s stock after selling 150,517 shares during the quarter. Progressive accounts for 3.0% of C WorldWide Group Holding A S’s investment portfolio, making the stock its 14th largest holding. C WorldWide Group Holding A S’s holdings in Progressive were worth $170,691,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dagco Inc. bought a new position in Progressive during the 4th quarter worth $28,000. Ameriflex Group Inc. raised its position in Progressive by 106.6% during the 3rd 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 last quarter. Bangor Savings Bank raised its position in Progressive by 60.4% during the 4th quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 58 shares during the last quarter. Riverview Trust Co raised its position in Progressive by 48.6% during the 4th quarter. Riverview Trust Co now owns 162 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 53 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Progressive by 833.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 168 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

Shares of Progressive stock opened at $193.85 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $202.73 and a two-hundred day moving average price of $211.43. The Progressive Corporation has a 1-year low of $191.75 and a 1-year high of $289.96. The company has a market cap of $113.27 billion, a P/E ratio of 9.86, a PEG ratio of 5.61 and a beta of 0.31.

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 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 firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. During the same period last year, the business posted $4.37 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that The Progressive Corporation will post 16.39 EPS for the current year.

Progressive Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PGR shares. Evercore reaffirmed a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Morgan Stanley lowered their target price on Progressive from $205.00 to $190.00 and set an “underweight” rating for the company in a research report on Tuesday, March 31st. Piper Sandler reiterated an “overweight” rating and set a $259.00 price target on shares of Progressive in a report on Monday, March 2nd. Barclays set a $247.00 price target on Progressive in a report on Wednesday, March 18th. Finally, 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. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $238.39.

Insider Transactions at Progressive

In other news, insider Karen Bailo sold 3,517 shares of the firm’s stock in a transaction dated 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 directly owned 32,348 shares in the company, valued at $6,857,776. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Maribel Pumarejo sold 739 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total value of $150,201.75. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,933 shares of company stock valued at $1,441,564. 0.32% of the stock is currently owned by corporate insiders.

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.