The Progressive Corporation $PGR Shares Sold by Callan Family Office LLC

Callan Family Office LLC cut its position in shares of The Progressive Corporation (NYSE:PGR) by 38.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,882 shares of the insurance provider’s stock after selling 9,404 shares during the quarter. Callan Family Office LLC’s holdings in Progressive were worth $3,675,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Davis Capital Management purchased a new position in Progressive during the 3rd quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Progressive in the second quarter valued at approximately $33,000. Westside Investment Management Inc. increased its stake in shares of Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Progressive during the 2nd quarter worth approximately $34,000. Finally, Richardson Financial Services Inc. raised its position in shares of Progressive by 1,885.7% during the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity at Progressive

In other news, CIO Jonathan S. Bauer sold 3,105 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $634,506.75. Following the completion of the sale, the executive directly owned 26,249 shares in the company, valued at $5,363,983.15. This represents a 10.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Broz sold 1,344 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $224.80, for a total value of $302,131.20. Following the completion of the transaction, the insider directly owned 26,354 shares in the company, valued at $5,924,379.20. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,788 shares of company stock valued at $3,018,961 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Progressive Trading Down 0.9%

Shares of PGR stock opened at $201.13 on Wednesday. The firm’s 50-day simple moving average is $218.64 and its 200-day simple moving average is $230.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29. The Progressive Corporation has a 1-year low of $198.50 and a 1-year high of $292.99. The firm has a market cap of $117.94 billion, a P/E ratio of 10.45, a PEG ratio of 1.25 and a beta of 0.32.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is 2.08%.

Analyst Ratings Changes

PGR has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Progressive in a report on Monday, December 29th. Morgan Stanley decreased their price objective on Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 28th. Bank of America cut their target price on shares of Progressive from $350.00 to $348.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. Barclays raised shares of Progressive from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $257.00 to $265.00 in a research note on Thursday, January 8th. Finally, Mizuho set a $240.00 price objective on shares of Progressive in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average price target of $253.62.

Progressive 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.