Valeo Financial Advisors LLC lessened its position in The Progressive Co. (NYSE:PGR – Free Report) by 31.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,394 shares of the insurance provider’s stock after selling 1,085 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Progressive were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of the stock. Tectonic Advisors LLC increased its holdings in shares of Progressive by 10.5% in the second quarter. Tectonic Advisors LLC now owns 32,061 shares of the insurance provider’s stock worth $4,244,000 after buying an additional 3,058 shares during the period. Perpetual Ltd increased its holdings in shares of Progressive by 49.2% in the second quarter. Perpetual Ltd now owns 811,963 shares of the insurance provider’s stock worth $107,480,000 after buying an additional 267,801 shares during the period. HB Wealth Management LLC increased its holdings in shares of Progressive by 4.5% in the second quarter. HB Wealth Management LLC now owns 8,843 shares of the insurance provider’s stock worth $1,171,000 after buying an additional 382 shares during the period. Central Bank & Trust Co. increased its holdings in shares of Progressive by 0.8% in the second quarter. Central Bank & Trust Co. now owns 33,953 shares of the insurance provider’s stock worth $4,494,000 after buying an additional 285 shares during the period. Finally, Tran Capital Management L.P. increased its holdings in shares of Progressive by 1.7% in the second quarter. Tran Capital Management L.P. now owns 365,368 shares of the insurance provider’s stock worth $48,364,000 after buying an additional 6,145 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Insider Transactions at Progressive
In other news, insider Andrew J. Quigg sold 5,070 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $127.50, for a total value of $646,425.00. Following the sale, the insider now directly owns 20,816 shares of the company’s stock, valued at approximately $2,654,040. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Andrew J. Quigg sold 5,070 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $127.50, for a total value of $646,425.00. Following the completion of the transaction, the insider now directly owns 20,816 shares in the company, valued at approximately $2,654,040. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel P. Mascaro sold 1,570 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $140.39, for a total transaction of $220,412.30. Following the completion of the transaction, the insider now owns 31,706 shares of the company’s stock, valued at $4,451,205.34. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock valued at $10,046,656 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on PGR
Progressive Stock Performance
Shares of PGR opened at $143.26 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $131.30 and its 200-day moving average price is $133.57. The Progressive Co. has a 52 week low of $110.04 and a 52 week high of $149.87. The stock has a market cap of $83.85 billion, a P/E ratio of 49.06, a P/E/G ratio of 1.23 and a beta of 0.47.
Progressive (NYSE:PGR – Get Free Report) last issued its quarterly earnings results on Thursday, July 13th. The insurance provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.38). Progressive had a return on equity of 12.02% and a net margin of 3.12%. The company had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $15.24 billion. Equities research analysts anticipate that The Progressive Co. will post 4.68 earnings per share for the current fiscal year.
Progressive Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Thursday, October 5th will be given a $0.10 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.28%. Progressive’s dividend payout ratio is currently 13.70%.
About Progressive
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.
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