The Progressive Corporation $PGR Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA reduced its stake in shares of The Progressive Corporation (NYSE:PGR) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 883,700 shares of the insurance provider’s stock after selling 29,157 shares during the quarter. Progressive comprises 12.3% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Progressive were worth $201,236,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Liberty One Investment Management LLC boosted its stake in shares of Progressive by 3.8% in the third quarter. Liberty One Investment Management LLC now owns 1,291 shares of the insurance provider’s stock valued at $319,000 after buying an additional 47 shares during the period. True Wealth Design LLC increased its position in shares of Progressive by 20.8% in the third quarter. True Wealth Design LLC now owns 279 shares of the insurance provider’s stock worth $69,000 after purchasing an additional 48 shares during the period. Klingman & Associates LLC lifted its position in Progressive by 1.7% during the fourth quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider’s stock worth $667,000 after purchasing an additional 48 shares during the period. Wealthstream Advisors Inc. increased its stake in shares of Progressive by 4.6% in the 3rd quarter. Wealthstream Advisors Inc. now owns 1,111 shares of the insurance provider’s stock valued at $274,000 after purchasing an additional 49 shares during the last quarter. Finally, Revisor Wealth Management LLC grew its stake in shares of Progressive by 2.7% during the fourth quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider’s stock worth $395,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Down 1.2%

PGR stock opened at $200.65 on Thursday. The company has a market capitalization of $117.38 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 6.66 and a beta of 0.34. The company’s 50 day moving average price is $203.18 and its two-hundred day moving average price is $212.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.35 and a current ratio of 0.33. The Progressive Corporation has a one year low of $192.02 and a one year high of $289.96.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS 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 company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. During the same quarter last year, the firm posted $4.37 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, analysts predict that The Progressive Corporation will post 16.38 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s payout ratio is presently 2.03%.

Insider Buying and Selling

In other news, CIO Jonathan S. Bauer sold 2,266 shares of Progressive stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $203.05, for a total value of $460,111.30. Following the completion of the transaction, the executive owned 26,250 shares of the company’s stock, valued at $5,330,062.50. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Carl G. Joyce sold 270 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the sale, the chief accounting officer owned 558 shares of the company’s stock, valued at approximately $115,227. This represents a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,933 shares of company stock valued at $1,441,564. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Progressive in a research report on Friday, March 27th. Barclays set a $247.00 price target on shares of Progressive in a research note on Wednesday, March 18th. UBS Group raised their price objective on Progressive from $218.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Citigroup dropped their price target on Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Finally, Argus raised Progressive to a “hold” rating in a research report on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Progressive has an average rating of “Hold” and an average target price of $238.39.

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.