Corient Private Wealth LLC Acquires 10,641 Shares of The Progressive Corporation $PGR

Corient Private Wealth LLC lifted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 832,463 shares of the insurance provider’s stock after buying an additional 10,641 shares during the period. Corient Private Wealth LLC owned approximately 0.14% of Progressive worth $222,151,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PGR. Atlantic Union Bankshares Corp purchased a new position in shares of Progressive during the second quarter valued at approximately $33,000. Ransom Advisory Ltd purchased a new stake in Progressive during the 1st quarter valued at $35,000. Howard Hughes Medical Institute bought a new position in shares of Progressive during the 2nd quarter valued at $34,000. Activest Wealth Management grew its holdings in shares of Progressive by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 127 shares during the period. Finally, Westside Investment Management Inc. increased its position in Progressive by 900.0% during the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 1.8%

Shares of Progressive stock opened at $234.61 on Monday. The Progressive Corporation has a fifty-two week low of $199.90 and a fifty-two week high of $292.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $137.58 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.05 and a beta of 0.36. The company has a fifty day moving average of $224.07 and a 200 day moving average of $242.48.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period last year, the company earned $3.58 EPS. On average, sell-side analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Friday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.19%.

Analysts Set New Price Targets

Several research analysts have issued reports on PGR shares. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 17th. UBS Group cut their target price on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of Progressive from $246.00 to $247.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. The Goldman Sachs Group reduced their price objective on Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $266.40.

Insider Activity at Progressive

In other Progressive news, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $242.10, for a total value of $536,977.80. Following the sale, the insider owned 43,506 shares in the company, valued at $10,532,802.60. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick K. Callahan sold 6,420 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the transaction, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. This trade represents a 29.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,673 shares of company stock worth $4,163,005 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Progressive Company 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.