The Progressive Corporation $PGR Stock Holdings Lowered by London Co. of Virginia

London Co. of Virginia cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 1.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,748,776 shares of the insurance provider’s stock after selling 29,730 shares during the period. Progressive makes up approximately 2.4% of London Co. of Virginia’s holdings, making the stock its 7th largest holding. London Co. of Virginia’s holdings in Progressive were worth $431,866,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGR. Lido Advisors LLC grew its position in Progressive by 4.3% in the third quarter. Lido Advisors LLC now owns 23,980 shares of the insurance provider’s stock valued at $5,922,000 after acquiring an additional 984 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Progressive by 13.9% during the third quarter. Integrated Wealth Concepts LLC now owns 49,080 shares of the insurance provider’s stock worth $12,120,000 after purchasing an additional 5,994 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Progressive during the third quarter worth $77,000. Humankind Investments LLC boosted its stake in shares of Progressive by 20.3% in the third quarter. Humankind Investments LLC now owns 988 shares of the insurance provider’s stock valued at $244,000 after purchasing an additional 167 shares during the period. Finally, Fayez Sarofim & Co grew its holdings in Progressive by 7.4% during the 3rd quarter. Fayez Sarofim & Co now owns 2,213,309 shares of the insurance provider’s stock valued at $549,351,000 after purchasing an additional 152,891 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PGR. Evercore set a $230.00 price target on shares of Progressive in a research note on Thursday, February 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Progressive in a research note on Monday, December 29th. Wells Fargo & Company dropped their target price on Progressive from $220.00 to $214.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Roth Mkm set a $235.00 price target on Progressive in a research note on Thursday, February 19th. Finally, UBS Group reduced their price target on Progressive from $226.00 to $218.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $241.94.

Insider Activity

In other Progressive news, insider Andrew J. Quigg sold 1,649 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the sale, the insider directly owned 39,626 shares of the company’s stock, valued at approximately $8,097,573.10. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maribel Pumarejo sold 739 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total transaction of $150,201.75. The SEC filing for this sale provides additional information. Insiders sold a total of 12,761 shares of company stock valued at $2,659,420 over the last three months. 0.33% of the stock is currently owned by company insiders.

Progressive Trading Down 0.3%

NYSE:PGR opened at $204.60 on Tuesday. The company has a market cap of $119.88 billion, a PE ratio of 10.63, a P/E/G ratio of 8.94 and a beta of 0.33. The business’s 50 day moving average is $206.80 and its two-hundred day moving average is $222.02. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $292.99.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.08%.

About Progressive

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.