US Bancorp DE Sells 7,235 Shares of The Progressive Corporation $PGR

US Bancorp DE decreased its position in The Progressive Corporation (NYSE:PGR) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 189,270 shares of the insurance provider’s stock after selling 7,235 shares during the period. US Bancorp DE’s holdings in Progressive were worth $43,103,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PGR. Illinois Municipal Retirement Fund lifted its holdings in Progressive by 30.2% during the third quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock valued at $25,381,000 after purchasing an additional 23,833 shares during the last quarter. Allstate Corp lifted its holdings in Progressive by 1,614.1% during the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock valued at $5,334,000 after purchasing an additional 20,338 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in Progressive by 91.7% during the third quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock valued at $2,892,000 after purchasing an additional 5,600 shares during the last quarter. Mather Group LLC. lifted its holdings in Progressive by 40.6% during the third quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock valued at $4,159,000 after purchasing an additional 4,865 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in Progressive by 471.3% during the third quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider’s stock valued at $5,556,000 after purchasing an additional 18,558 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PGR. The Goldman Sachs Group reaffirmed a “buy” rating and set a $225.00 price objective on shares of Progressive in a report on Monday, February 23rd. Keefe, Bruyette & Woods lowered their price target on shares of Progressive from $227.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Progressive in a report on Friday, March 27th. Argus raised shares of Progressive to a “hold” rating in a report on Thursday, March 5th. Finally, Mizuho lowered their price target on shares of Progressive from $235.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Progressive has a consensus rating of “Hold” and a consensus price target of $238.39.

Progressive Trading Up 0.4%

Shares of Progressive stock opened at $201.51 on Friday. The Progressive Corporation has a 12-month low of $192.02 and a 12-month high of $289.96. The company has a market cap of $117.87 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 6.62 and a beta of 0.34. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $203.18 and its 200-day moving average price is $212.38.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. During the same period in the prior year, the firm posted $4.37 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts expect that The Progressive Corporation will post 16.38 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

Insider Activity at Progressive

In related news, CIO Jonathan S. Bauer sold 2,266 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total value of $460,111.30. Following the sale, the executive directly owned 26,250 shares of the company’s stock, valued at $5,330,062.50. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Maribel Pumarejo sold 739 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,933 shares of company stock valued at $1,441,564. Company 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.