TriaGen Wealth Management LLC Has $685,000 Stock Holdings in The Progressive Corporation $PGR

TriaGen Wealth Management LLC lowered its position in shares of The Progressive Corporation (NYSE:PGR) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,568 shares of the insurance provider’s stock after selling 46 shares during the quarter. TriaGen Wealth Management LLC’s holdings in Progressive were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PGR. Nuveen LLC acquired a new stake in Progressive in the 1st quarter worth about $1,473,180,000. GQG Partners LLC grew its position in shares of Progressive by 61.4% during the 1st quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock worth $2,362,039,000 after purchasing an additional 3,174,632 shares in the last quarter. C WorldWide Group Holding A S increased its holdings in shares of Progressive by 12,110.3% during the first quarter. C WorldWide Group Holding A S now owns 1,248,628 shares of the insurance provider’s stock worth $353,374,000 after purchasing an additional 1,238,402 shares during the period. Alliancebernstein L.P. raised its position in shares of Progressive by 15.2% in the first quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider’s stock valued at $2,338,556,000 after buying an additional 1,091,828 shares in the last quarter. Finally, Axiom Investors LLC DE acquired a new stake in shares of Progressive in the first quarter valued at approximately $194,557,000. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley reduced their price target on Progressive from $267.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Monday, September 22nd. UBS Group reduced their target price on Progressive from $280.00 to $268.00 and set a “neutral” rating on the stock in a report on Monday, July 21st. Cantor Fitzgerald upgraded Progressive to a “hold” rating in a research report on Wednesday, August 13th. Bank of America boosted their price target on Progressive from $343.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, BMO Capital Markets set a $252.00 price objective on shares of Progressive in a research note on Thursday, September 18th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $279.63.

Insider Buying and Selling

In related news, CEO Susan Patricia Griffith sold 30,660 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $242.12, for a total transaction of $7,423,399.20. Following the sale, the chief executive officer owned 506,945 shares of the company’s stock, valued at $122,741,523.40. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 16,664 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $249.24, for a total value of $4,153,335.36. Following the completion of the transaction, the chief financial officer directly owned 228,024 shares of the company’s stock, valued at approximately $56,832,701.76. The trade was a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,045 shares of company stock worth $31,997,390 in the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive Stock Down 2.1%

PGR stock opened at $240.50 on Tuesday. The firm has a 50-day moving average price of $245.14 and a 200-day moving average price of $260.43. The Progressive Corporation has a 12 month low of $228.54 and a 12 month high of $292.99. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $140.98 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.32.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.45. The company had revenue of $20.08 billion for the quarter, compared to analyst estimates of $20.39 billion. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.48 EPS. As a group, equities research analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio is 2.25%.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.