The Progressive Corporation $PGR Shares Purchased by Integrity Alliance LLC.

Integrity Alliance LLC. lifted its holdings in The Progressive Corporation (NYSE:PGR) by 24.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,641 shares of the insurance provider’s stock after purchasing an additional 3,224 shares during the period. Integrity Alliance LLC.’s holdings in Progressive were worth $3,790,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock valued at $12,584,067,000 after purchasing an additional 593,612 shares during the last quarter. State Street Corp raised its position in Progressive by 0.3% in the 3rd quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock valued at $6,373,474,000 after purchasing an additional 78,374 shares during the last quarter. Capital International Investors raised its position in Progressive by 78.9% in the 3rd quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock valued at $3,384,082,000 after purchasing an additional 6,045,732 shares during the last quarter. Capital Research Global Investors raised its position in Progressive by 26.1% in the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock valued at $2,757,905,000 after purchasing an additional 2,314,864 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Progressive by 4.9% in the 3rd quarter. Legal & General Group Plc now owns 4,196,111 shares of the insurance provider’s stock valued at $1,036,230,000 after purchasing an additional 197,603 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays set a $247.00 price target on shares of Progressive in a research report on Wednesday, March 18th. Royal Bank Of Canada set a $208.00 price target on shares of Progressive in a research report on Friday, May 22nd. Jefferies Financial Group reduced their price target on shares of Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a research report on Tuesday, March 24th. BMO Capital Markets reiterated a “market perform” rating and issued a $220.00 price target on shares of Progressive in a research report on Wednesday, May 20th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Progressive in a research report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Progressive presently has an average rating of “Hold” and an average target price of $238.11.

Insiders Place Their Bets

In other news, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the transaction, the insider directly owned 32,348 shares of the company’s stock, valued at $6,857,776. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Carl G. Joyce sold 270 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the sale, the chief accounting officer directly owned 558 shares in the company, valued at approximately $115,227. The trade was a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,928 shares of company stock worth $831,251. Corporate insiders own 0.32% of the company’s stock.

Progressive Stock Performance

NYSE:PGR opened at $197.00 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The Progressive Corporation has a fifty-two week low of $191.75 and a fifty-two week high of $289.96. The stock has a market cap of $115.12 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 7.28 and a beta of 0.31. The firm’s fifty day simple moving average is $200.07 and its 200-day simple moving average is $210.03.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same period in the prior year, the company posted $4.37 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that The Progressive Corporation will post 16.36 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is 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 2.03%.

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.