The Progressive Corporation $PGR Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC lessened its stake in shares of The Progressive Corporation (NYSE:PGR) by 34.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 40,949 shares of the insurance provider’s stock after selling 21,792 shares during the period. Trillium Asset Management LLC’s holdings in Progressive were worth $9,676,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new stake in Progressive during the 4th quarter valued at $28,000. IFC & Insurance Marketing Inc. acquired a new stake in Progressive during the 4th quarter valued at $29,000. Ameriflex Group Inc. grew its holdings in Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after buying an additional 65 shares during the last quarter. Entrust Financial LLC acquired a new stake in Progressive during the 4th quarter valued at $33,000. Finally, Kingdom Financial Group LLC. acquired a new stake in Progressive during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Up 0.3%

Shares of PGR opened at $202.86 on Friday. 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 firm has a market capitalization of $118.54 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 5.86 and a beta of 0.28. The stock’s fifty day simple moving average is $199.20 and its 200 day simple moving average is $208.05. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $269.84.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.13. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.37 EPS. On average, equities research analysts forecast that The Progressive Corporation will post 16.35 earnings per share for the current year.

Progressive Dividend Announcement

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

Insider Buying and Selling

In related news, insider Steven Broz sold 1,157 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $231,400.00. Following the transaction, the insider directly owned 28,668 shares of the company’s stock, valued at approximately $5,733,600. This trade represents a 3.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Carl G. Joyce sold 270 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the completion of the transaction, the chief accounting officer directly owned 558 shares in the company, valued at $115,227. This trade represents a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 7,343 shares of company stock valued at $1,470,355. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PGR shares. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Progressive in a report on Friday, May 22nd. Royal Bank Of Canada set a $208.00 price objective on Progressive in a report on Friday, May 22nd. Weiss Ratings cut Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Bank of America decreased their price objective on Progressive from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, Mizuho decreased their price objective on Progressive from $235.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $238.11.

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.