Rhumbline Advisers Has $256.77 Million Stock Holdings in The Progressive Corporation $PGR

Rhumbline Advisers decreased its stake in shares of The Progressive Corporation (NYSE:PGR) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,039,782 shares of the insurance provider’s stock after selling 9,996 shares during the period. Rhumbline Advisers’ holdings in Progressive were worth $256,774,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Davis Capital Management bought a new position in shares of Progressive during the third quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Progressive during the 2nd quarter worth approximately $33,000. Howard Hughes Medical Institute bought a new stake in shares of Progressive in the second quarter valued at approximately $34,000. Westside Investment Management Inc. grew its position in Progressive by 900.0% during the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after buying an additional 117 shares in the last quarter. Finally, TruNorth Capital Management LLC increased its stake in Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 135 shares during the period. 85.34% of the stock is owned by institutional investors.

Progressive Price Performance

Progressive stock opened at $202.57 on Wednesday. The company has a market capitalization of $118.79 billion, a PE ratio of 10.53, a P/E/G ratio of 1.24 and a beta of 0.32. The company has a current ratio of 0.38, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $216.15 and a two-hundred day moving average price of $228.55. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $292.99.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s payout ratio is 2.08%.

Insider Buying and Selling at Progressive

In other Progressive news, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $336,973.15. Following the sale, the insider owned 39,626 shares in the company, valued at approximately $8,097,573.10. The trade was a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John P. Sauerland sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $228.48, for a total value of $1,142,400.00. Following the transaction, the chief financial officer owned 223,024 shares of the company’s stock, valued at $50,956,523.52. This trade represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 12,443 shares of company stock worth $2,723,061. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PGR shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Progressive in a research note on Wednesday, December 17th. Barclays upgraded shares of Progressive from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $257.00 to $265.00 in a research report on Thursday, January 8th. William Blair downgraded shares of Progressive from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Zacks Research downgraded Progressive from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Finally, Evercore lowered their price target on Progressive from $250.00 to $237.00 and set an “in-line” rating for the company in a report on Wednesday, January 7th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Progressive presently has an average rating of “Hold” and an average target price of $251.29.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.