The Progressive Co. (NYSE:PGR) Shares Sold by Juncture Wealth Strategies LLC

Juncture Wealth Strategies LLC cut its holdings in The Progressive Co. (NYSE:PGR) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,837 shares of the insurance provider’s stock after selling 140 shares during the period. Juncture Wealth Strategies LLC’s holdings in Progressive were worth $243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PGR. Markel Corp boosted its holdings in shares of Progressive by 4.1% in the 1st quarter. Markel Corp now owns 750,750 shares of the insurance provider’s stock valued at $85,578,000 after buying an additional 29,750 shares during the period. Roundview Capital LLC increased its stake in shares of Progressive by 0.8% in the first quarter. Roundview Capital LLC now owns 49,086 shares of the insurance provider’s stock valued at $5,595,000 after purchasing an additional 381 shares during the period. Cibc World Market Inc. increased its stake in shares of Progressive by 3.9% in the first quarter. Cibc World Market Inc. now owns 6,693 shares of the insurance provider’s stock valued at $763,000 after purchasing an additional 254 shares during the period. Moors & Cabot Inc. increased its stake in shares of Progressive by 8.0% in the first quarter. Moors & Cabot Inc. now owns 3,081 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 228 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Progressive by 103.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,022 shares of the insurance provider’s stock worth $800,000 after buying an additional 3,571 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Progressive

In other Progressive news, insider Andrew J. Quigg sold 5,070 shares of Progressive stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $127.50, for a total transaction of $646,425.00. Following the completion of the sale, the insider now owns 20,816 shares of the company’s stock, valued at approximately $2,654,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Andrew J. Quigg sold 5,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $127.50, for a total transaction of $646,425.00. Following the transaction, the insider now owns 20,816 shares of the company’s stock, valued at $2,654,040. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 12,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $126.51, for a total transaction of $1,518,120.00. Following the transaction, the chief financial officer now owns 309,507 shares in the company, valued at approximately $39,155,730.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,801 shares of company stock worth $9,826,244. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on PGR. Jefferies Financial Group decreased their price target on Progressive from $165.00 to $156.00 in a research note on Tuesday, July 18th. Morgan Stanley boosted their price target on shares of Progressive from $114.00 to $124.00 and gave the stock an “underweight” rating in a research report on Monday. Roth Mkm reiterated a “buy” rating and issued a $165.00 price objective on shares of Progressive in a report on Monday. Bank of America boosted their target price on Progressive from $198.00 to $206.00 in a report on Thursday, June 15th. Finally, Piper Sandler increased their price target on Progressive from $132.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Progressive presently has an average rating of “Hold” and an average target price of $142.93.

Progressive Trading Up 1.3 %

Progressive stock opened at $140.56 on Tuesday. The company has a 50 day moving average price of $129.61 and a 200 day moving average price of $133.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.33 and a current ratio of 0.33. The Progressive Co. has a 52 week low of $110.04 and a 52 week high of $149.87. The firm has a market capitalization of $82.27 billion, a price-to-earnings ratio of 48.14, a P/E/G ratio of 1.19 and a beta of 0.47.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Thursday, July 13th. The insurance provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.38). Progressive had a net margin of 3.12% and a return on equity of 12.02%. The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $15.24 billion. Research analysts forecast that The Progressive Co. will post 4.67 EPS for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Thursday, October 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, October 4th. Progressive’s payout ratio is presently 13.70%.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.