The Progressive Corporation (NYSE:PGR) Holdings Decreased by Lountzis Asset Management LLC

Lountzis Asset Management LLC lessened its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,454 shares of the insurance provider's stock after selling 6,401 shares during the period. Progressive makes up about 7.4% of Lountzis Asset Management LLC's investment portfolio, making the stock its 2nd largest position. Lountzis Asset Management LLC's holdings in Progressive were worth $19,532,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PGR. Highline Wealth Partners LLC increased its position in Progressive by 114.0% in the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in Progressive during the fourth quarter valued at $28,000. HWG Holdings LP bought a new position in Progressive during the first quarter valued at $28,000. Atala Financial Inc bought a new position in Progressive during the fourth quarter valued at $32,000. Finally, Garde Capital Inc. bought a new position in Progressive during the first quarter valued at $33,000. Institutional investors own 85.34% of the company's stock.

Insider Activity at Progressive

In other Progressive news, Director Dyke Kahina Van sold 2,490 shares of the stock in a transaction dated 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 sale, the director directly owned 12,429 shares of the company's stock, valued at approximately $3,451,160.43. This represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Jo Murphy sold 4,000 shares of Progressive stock in a transaction that occurred on 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 transaction, the insider directly owned 41,289 shares in the company, valued at approximately $10,750,829.82. The trade was a 8.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,705 shares of company stock worth $11,450,948 over the last quarter. Corporate insiders own 0.34% of the company's stock.

Progressive Stock Down 1.8%

Progressive stock traded down $4.61 during midday trading on Friday, hitting $244.77. 3,182,460 shares of the company's stock were exchanged, compared to its average volume of 2,810,532. 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 12 month low of $208.13 and a 12 month high of $292.99. The firm has a 50-day moving average of $271.50 and a two-hundred day moving average of $265.58. The company has a market cap of $143.49 billion, a PE ratio of 16.51, a P/E/G ratio of 1.57 and a beta of 0.37.

Progressive (NYSE:PGR - Get Free Report) last issued its earnings results 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 company had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. As a group, analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

Analysts Set New Price Targets

PGR has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Barclays cut their price objective 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. Wall Street Zen upgraded shares of Progressive from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Wells Fargo & Company boosted their price objective on shares of Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, Jefferies Financial Group cut their price objective 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. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.41.

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.