The Progressive Corporation (NYSE:PGR) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 10.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,495 shares of the insurance provider's stock after acquiring an additional 10,912 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Progressive were worth $32,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Highline Wealth Partners LLC lifted its holdings in shares of Progressive by 114.0% in the 1st 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 stake in shares of Progressive in the 4th quarter worth $28,000. HWG Holdings LP purchased a new stake in shares of Progressive in the 1st quarter worth $28,000. Atala Financial Inc purchased a new stake in shares of Progressive in the 4th quarter worth $32,000. Finally, Garde Capital Inc. purchased a new stake in shares of Progressive in the 1st quarter worth $33,000. Institutional investors own 85.34% of the company's stock.

Progressive Stock Down 0.3%

Progressive stock traded down $0.82 during midday trading on Tuesday, reaching $252.72. The company's stock had a trading volume of 1,353,915 shares, compared to its average volume of 2,783,847. The stock's 50-day simple moving average is $273.96 and its 200-day simple moving average is $265.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The Progressive Corporation has a 52-week low of $207.50 and a 52-week high of $292.99. The stock has a market capitalization of $148.15 billion, a P/E ratio of 17.04, a PEG ratio of 1.61 and a beta of 0.37.

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

Progressive Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, July 4th will be paid a $0.10 dividend. This represents a yield of 0.15%. The ex-dividend date is Thursday, July 3rd. Progressive's dividend payout ratio (DPR) is presently 2.70%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America upgraded Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price for the company in a report on Monday, April 28th. Jefferies Financial Group lowered their target price on Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. BMO Capital Markets upped their target price on Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. UBS Group upped their target price on Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded Progressive from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Progressive currently has a consensus rating of "Moderate Buy" and an average price target of $285.94.

Insider Buying and Selling

In other news, insider Steven Broz sold 1,267 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $329,901.46. Following the transaction, the insider directly owned 27,621 shares of the company's stock, valued at approximately $7,191,955.98. This represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Jo Murphy sold 4,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 41,289 shares in the company, valued at $10,750,829.82. This represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,705 shares of company stock valued at $11,450,948 in the last 90 days. 0.33% of the stock is owned by insiders.

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.