The Progressive Corporation $PGR Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lessened its position in The Progressive Corporation (NYSE:PGR) by 46.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,971 shares of the insurance provider’s stock after selling 33,742 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Progressive were worth $7,726,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC raised its holdings in Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Bard Associates Inc. acquired a new stake in shares of Progressive during the fourth quarter worth $27,000. HHM Wealth Advisors LLC grew its position in shares of Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 126 shares during the period. IFC & Insurance Marketing Inc. acquired a new position in Progressive in the fourth quarter valued at $29,000. Finally, Entrust Financial LLC acquired a new position in Progressive in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

Progressive stock opened at $213.85 on Friday. The company has a market cap of $124.96 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 2.79 and a beta of 0.26. The Progressive Corporation has a 12 month low of $189.20 and a 12 month high of $254.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27. The stock’s 50-day moving average is $209.88 and its 200-day moving average is $205.92.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were issued a $0.10 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.01%.

Insider Buying and Selling at Progressive

In other Progressive news, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 41,290 shares in the company, valued at $8,258,000. The trade was a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the completion of the sale, the director directly owned 22,546 shares of the company’s stock, valued at $4,877,376.18. The trade was a 23.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,230 shares of company stock valued at $3,165,817 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. HSBC raised their price target on Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Morgan Stanley raised shares of Progressive from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $190.00 to $210.00 in a research note on Friday. BMO Capital Markets decreased their target price on shares of Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, July 16th. Keefe, Bruyette & Woods lowered their target price on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating for the company in a report on Thursday, July 16th. Finally, UBS Group upped their price target on shares of Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $236.11.

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.