Ameritas Advisory Services LLC Has $478,000 Stock Position in The Progressive Corporation (NYSE:PGR)

Ameritas Advisory Services LLC lessened its holdings in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,727 shares of the insurance provider's stock after selling 1,638 shares during the quarter. Ameritas Advisory Services LLC's holdings in Progressive were worth $478,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Progressive in the fourth quarter worth $1,843,045,000. GAMMA Investing LLC boosted its stake in Progressive by 39,285.0% during the first quarter. GAMMA Investing LLC now owns 3,046,037 shares of the insurance provider's stock worth $862,059,000 after buying an additional 3,038,303 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Progressive by 67.6% in the 4th 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 shares of Progressive in the 4th quarter valued at $408,416,000. Finally, Capital Research Global Investors boosted its stake in shares of Progressive by 34.3% in the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock valued at $1,451,602,000 after purchasing an additional 1,547,677 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Progressive Trading Down 3.2%

NYSE:PGR traded down $8.28 on Monday, hitting $253.38. 5,032,693 shares of the stock were exchanged, compared to its average volume of 2,789,116. The stock has a market capitalization of $148.54 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.61 and a beta of 0.37. The Progressive Corporation has a 52 week low of $207.50 and a 52 week high of $292.99. 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 company's 50-day moving average price is $273.96 and its 200 day moving average price is $265.71.

Progressive (NYSE:PGR - Get Free Report) last announced 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. The company had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. On average, equities research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

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

Insider Buying and Selling

In related news, insider Steven Broz sold 1,267 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $329,901.46. Following the completion of the transaction, the insider directly owned 27,621 shares in the company, valued at approximately $7,191,955.98. The trade was a 4.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,490 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total value of $691,398.30. Following the completion of the transaction, the director owned 12,429 shares of the company's stock, valued at $3,451,160.43. This represents a 16.69% 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 worth $11,450,948 over the last quarter. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Progressive from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $288.00 target price on shares of Progressive in a research note on Thursday, April 17th. Barclays reduced their target price on shares of Progressive from $297.00 to $287.00 and set an "equal weight" rating on the stock in a research note on Monday. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price on the stock in a research note on Monday, April 28th. Finally, Wells Fargo & Company boosted their target price on shares of Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Progressive presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.94.

Progressive Company 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.