The Progressive Corporation (NYSE:PGR) Shares Sold by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC lowered its position in The Progressive Corporation (NYSE:PGR - Free Report) by 14.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,147 shares of the insurance provider's stock after selling 20,015 shares during the quarter. Progressive comprises about 2.4% of Fulton Breakefield Broenniman LLC's holdings, making the stock its 13th biggest holding. Fulton Breakefield Broenniman LLC's holdings in Progressive were worth $32,588,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Highline Wealth Partners LLC boosted its stake in Progressive by 114.0% during the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after buying an additional 49 shares during the period. Minot DeBlois Advisors LLC purchased a new position in Progressive during the fourth quarter worth about $28,000. HWG Holdings LP acquired a new stake in shares of Progressive during the first quarter worth about $28,000. Atala Financial Inc acquired a new stake in shares of Progressive during the fourth quarter worth about $32,000. Finally, Garde Capital Inc. acquired a new stake in shares of Progressive during the first quarter worth about $33,000. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Buying and Selling at Progressive

In related news, insider John Jo Murphy sold 4,000 shares of Progressive stock in a transaction on Friday, June 20th. The shares were sold at an average price of $260.38, for a total value of $1,041,520.00. Following the transaction, the insider directly owned 41,289 shares in the company, valued at $10,750,829.82. This trade represents a 8.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dyke Kahina Van sold 2,490 shares of Progressive stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total transaction of $691,398.30. Following the completion of the transaction, the director owned 12,429 shares in the company, valued at approximately $3,451,160.43. This trade represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,705 shares of company stock valued at $11,450,948. 0.34% of the stock is owned by company insiders.

Progressive Stock Down 1.8%

PGR stock traded down $4.61 during midday trading on Friday, reaching $244.77. 3,182,460 shares of the company were exchanged, compared to its average volume of 2,812,519. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The Progressive Corporation has a 1-year low of $208.13 and a 1-year high of $292.99. The stock's 50-day simple moving average is $271.50 and its 200 day simple moving average is $265.73. The company has a market cap of $143.49 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.54 and a beta of 0.37.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. The company had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a net margin of 11.10% and a return on equity of 33.50%. On average, equities analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, July 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) is presently 2.70%.

Analyst Ratings Changes

Several analysts have recently issued reports on PGR shares. Wall Street Zen raised shares of Progressive from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Jefferies Financial Group reduced their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Barclays reduced their price target on shares of Progressive from $297.00 to $287.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Wells Fargo & Company increased their price target on shares of Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Progressive presently has a consensus rating of "Moderate Buy" and a consensus target price of $285.41.

About Progressive

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.