Thompson Siegel & Walmsley LLC Has $14.76 Million Position in The Progressive Co. (NYSE:PGR)

Thompson Siegel & Walmsley LLC increased its holdings in shares of The Progressive Co. (NYSE:PGR) by 1.4% during the 4th quarter, HoldingsChannel reports. The firm owned 92,672 shares of the insurance provider’s stock after purchasing an additional 1,318 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Progressive were worth $14,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. TIAA Trust National Association acquired a new position in shares of Progressive in the third quarter valued at approximately $847,000. First Horizon Advisors Inc. boosted its stake in Progressive by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,888 shares of the insurance provider’s stock worth $263,000 after purchasing an additional 102 shares during the period. Cable Hill Partners LLC bought a new position in Progressive during the 3rd quarter worth about $228,000. Carmel Capital Partners LLC acquired a new stake in shares of Progressive in the 3rd quarter valued at about $73,000. Finally, Assetmark Inc. lifted its holdings in shares of Progressive by 10.7% in the third quarter. Assetmark Inc. now owns 22,543 shares of the insurance provider’s stock valued at $3,140,000 after purchasing an additional 2,187 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price on shares of Progressive in a research report on Monday, April 1st. Bank of America decreased their price objective on Progressive from $279.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Jefferies Financial Group increased their price target on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, April 15th. UBS Group boosted their price target on Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Citigroup increased their price objective on Progressive from $202.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $211.88.

Progressive Stock Performance

Shares of NYSE PGR opened at $215.76 on Friday. The stock’s fifty day moving average price is $206.73 and its two-hundred day moving average price is $181.64. The firm has a market cap of $126.37 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 0.85 and a beta of 0.34. The Progressive Co. has a one year low of $111.41 and a one year high of $217.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.32 and a quick ratio of 0.31.

Progressive (NYSE:PGR) last released its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.74. The company had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. Progressive’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. On average, equities analysts forecast that The Progressive Co. will post 11.29 EPS for the current year.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Wednesday, April 3rd. Progressive’s payout ratio is 4.09%.

Insider Buying and Selling

In other Progressive news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the transaction, the director now directly owns 7,176 shares in the company, valued at $1,494,976.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Progressive news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karen Bailo sold 8,464 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total value of $1,603,843.36. Following the completion of the sale, the insider now owns 32,342 shares in the company, valued at approximately $6,128,485.58. The disclosure for this sale can be found here. Insiders have sold 39,139 shares of company stock worth $7,458,139 in the last 90 days. Insiders own 0.34% of the company’s stock.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.