Compass Ion Advisors LLC Sells 2,463 Shares of The Progressive Co. (NYSE:PGR)

Compass Ion Advisors LLC trimmed its holdings in The Progressive Co. (NYSE:PGR) by 33.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,980 shares of the insurance provider’s stock after selling 2,463 shares during the quarter. Compass Ion Advisors LLC’s holdings in Progressive were worth $1,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PGR. Balentine LLC raised its stake in shares of Progressive by 0.3% during the 4th quarter. Balentine LLC now owns 22,162 shares of the insurance provider’s stock worth $3,530,000 after purchasing an additional 58 shares in the last quarter. Independent Advisor Alliance lifted its stake in Progressive by 1.9% in the fourth quarter. Independent Advisor Alliance now owns 3,438 shares of the insurance provider’s stock valued at $548,000 after acquiring an additional 64 shares during the last quarter. Winslow Asset Management Inc. grew its position in shares of Progressive by 0.8% in the 4th quarter. Winslow Asset Management Inc. now owns 8,579 shares of the insurance provider’s stock valued at $1,366,000 after acquiring an additional 67 shares during the period. Waterloo Capital L.P. increased its stake in shares of Progressive by 0.7% during the 4th quarter. Waterloo Capital L.P. now owns 9,481 shares of the insurance provider’s stock worth $1,510,000 after purchasing an additional 68 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Progressive by 19.3% in the 4th quarter. Quent Capital LLC now owns 427 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Down 1.7 %

Shares of Progressive stock opened at $207.71 on Monday. The firm’s 50-day moving average price is $209.49 and its two-hundred day moving average price is $193.84. The company has a market capitalization of $121.66 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 0.80 and a beta of 0.35. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $217.77.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. The business had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. On average, analysts forecast that The Progressive Co. will post 11.27 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, July 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. Progressive’s dividend payout ratio is currently 4.09%.

Insider Activity at Progressive

In other news, CFO John P. Sauerland sold 12,457 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $204.43, for a total value of $2,546,584.51. Following the completion of the transaction, the chief financial officer now owns 312,958 shares of the company’s stock, valued at $63,978,003.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO John P. Sauerland sold 12,457 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $204.43, for a total transaction of $2,546,584.51. Following the completion of the transaction, the chief financial officer now directly owns 312,958 shares in the company, valued at $63,978,003.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mariann Wojtkun Marshall sold 650 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $208.11, for a total value of $135,271.50. Following the sale, the chief accounting officer now directly owns 3,981 shares in the company, valued at approximately $828,485.91. The disclosure for this sale can be found here. Insiders have sold 24,518 shares of company stock valued at $5,055,674 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on PGR. HSBC lifted their price target on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. The Goldman Sachs Group increased their price target on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. UBS Group lifted their price objective on shares of Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Citigroup increased their price objective on shares of Progressive from $230.00 to $232.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Finally, Jefferies Financial Group lifted their target price on shares of Progressive from $241.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $216.81.

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.