The Progressive Corporation $PGR Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC cut its stake in The Progressive Corporation (NYSE:PGR) by 85.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,177 shares of the insurance provider’s stock after selling 7,033 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Progressive were worth $268,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital International Investors grew its holdings in shares of Progressive by 78.9% in the third quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock valued at $3,384,082,000 after purchasing an additional 6,045,732 shares during the period. Alliancebernstein L.P. raised its stake in Progressive by 32.8% during the second quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after purchasing an additional 2,709,417 shares during the period. Capital Research Global Investors boosted its holdings in Progressive by 26.1% in the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock valued at $2,757,905,000 after purchasing an additional 2,314,864 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Progressive by 2,012.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 767,549 shares of the insurance provider’s stock valued at $189,546,000 after purchasing an additional 731,207 shares during the last quarter. Finally, Marshfield Associates grew its position in Progressive by 70.8% in the third quarter. Marshfield Associates now owns 1,577,453 shares of the insurance provider’s stock worth $389,552,000 after acquiring an additional 653,763 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Stock Down 2.2%

Shares of PGR opened at $198.41 on Friday. The company’s 50-day simple moving average is $205.72 and its 200-day simple moving average is $219.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $289.96. The stock has a market capitalization of $116.06 billion, a PE ratio of 10.31, a P/E/G ratio of 5.74 and a beta of 0.33.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.08%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PGR shares. Keefe, Bruyette & Woods dropped their price target on shares of Progressive from $232.00 to $227.00 and set a “market perform” rating for the company in a research report on Thursday, March 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Roth Mkm set a $235.00 target price on shares of Progressive in a report on Thursday, February 19th. Evercore reissued a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Finally, BMO Capital Markets decreased their price target on Progressive from $232.00 to $208.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 11th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Progressive has an average rating of “Hold” and a consensus price target of $239.22.

Insider Buying and Selling

In other Progressive news, CIO Jonathan S. Bauer sold 3,105 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the transaction, the executive owned 26,249 shares in the company, valued at $5,363,983.15. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Carl G. Joyce sold 270 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the sale, the chief accounting officer directly owned 558 shares in the company, valued at $115,227. This represents a 32.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,687 shares of company stock worth $2,413,044 over the last three months. 0.34% of the stock is owned by insiders.

About Progressive

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.