Kintegral Advisory LLC Sells 6,387 Shares of The Progressive Corporation (NYSE:PGR)

Kintegral Advisory LLC decreased its stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 32.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,022 shares of the insurance provider's stock after selling 6,387 shares during the period. Kintegral Advisory LLC's holdings in Progressive were worth $3,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PGR. Norges Bank acquired a new stake in shares of Progressive in the fourth quarter valued at approximately $1,843,045,000. GAMMA Investing LLC grew its position in Progressive by 39,285.0% in the first quarter. GAMMA Investing LLC now owns 3,046,037 shares of the insurance provider's stock valued at $862,059,000 after purchasing an additional 3,038,303 shares in the last quarter. GQG Partners LLC grew its position in Progressive by 67.6% in the fourth quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider's stock valued at $1,239,143,000 after purchasing an additional 2,085,833 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Progressive in the 4th quarter valued at $408,416,000. Finally, Capital Research Global Investors lifted its position in Progressive by 34.3% during the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock worth $1,451,602,000 after buying an additional 1,547,677 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $263.79, for a total transaction of $2,637,900.00. Following the transaction, the chief financial officer directly owned 228,024 shares of the company's stock, valued at approximately $60,150,450.96. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Jo Murphy sold 4,000 shares of Progressive stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total transaction of $1,041,520.00. Following the completion of the sale, the insider owned 41,289 shares of the company's stock, valued at $10,750,829.82. This trade represents a 8.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,705 shares of company stock worth $11,450,948 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Morgan Stanley set a $330.00 price target on Progressive and gave the company an "overweight" rating in a research note on Monday, May 19th. Jefferies Financial Group dropped their price objective on Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. UBS Group raised their target price on shares of Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, Barclays upped their price target on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $288.88.

Progressive Stock Performance

Shares of PGR stock traded up $2.50 during midday trading on Friday, hitting $260.30. 2,685,585 shares of the company were exchanged, compared to its average volume of 2,775,782. The Progressive Corporation has a 52 week low of $207.50 and a 52 week high of $292.99. The firm has a market capitalization of $152.59 billion, a P/E ratio of 17.55, a PEG ratio of 1.61 and a beta of 0.37. The firm's 50 day moving average price is $274.38 and its two-hundred day moving average price is $265.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The firm had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. As a group, equities research analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, July 11th. Investors of record on Friday, July 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a yield of 0.15%. Progressive's payout ratio is currently 2.70%.

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.