MASTERINVEST Kapitalanlage GmbH Reduces Holdings in The Progressive Corporation $PGR

MASTERINVEST Kapitalanlage GmbH lowered its position in shares of The Progressive Corporation (NYSE:PGR) by 12.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,439 shares of the insurance provider’s stock after selling 4,109 shares during the period. MASTERINVEST Kapitalanlage GmbH’s holdings in Progressive were worth $5,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PGR. Brighton Jones LLC lifted its stake in shares of Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after purchasing an additional 457 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Progressive during the 4th quarter worth $269,000. Bison Wealth LLC increased its position in shares of Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. HUB Investment Partners LLC increased its position in shares of Progressive by 7.8% during the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock worth $609,000 after purchasing an additional 166 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in Progressive by 12.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after buying an additional 1,622 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PGR. Barclays set a $247.00 target price on shares of Progressive in a research report on Wednesday, March 18th. Wells Fargo & Company downgraded shares of Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price target on the stock. in a research note on Monday, June 29th. Evercore set a $240.00 price objective on shares of Progressive in a report on Friday. Royal Bank Of Canada set a $208.00 price objective on shares of Progressive in a research report on Friday, May 22nd. Finally, Mizuho lifted their target price on shares of Progressive from $217.00 to $243.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Progressive has a consensus rating of “Hold” and an average target price of $236.74.

Insider Buying and Selling at Progressive

In related news, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the transaction, the insider owned 41,290 shares in the company, valued at approximately $8,258,000. The trade was a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the transaction, the director directly owned 22,546 shares in the company, valued at $4,877,376.18. This trade represents a 23.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,230 shares of company stock valued at $3,165,817. Insiders own 0.32% of the company’s stock.

Progressive Stock Performance

Shares of Progressive stock opened at $225.89 on Wednesday. The business has a 50-day simple moving average of $208.13 and a 200-day simple moving average of $206.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The Progressive Corporation has a one year low of $189.20 and a one year high of $254.93. The company has a market cap of $131.99 billion, a PE ratio of 11.48, a P/E/G ratio of 4.43 and a beta of 0.26.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same quarter last year, the company earned $4.37 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that The Progressive Corporation will post 17.3 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.03%.

Progressive Company 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.