Compagnie Lombard Odier SCmA Has $51.16 Million Stock Holdings in The Progressive Corporation $PGR

Compagnie Lombard Odier SCmA trimmed its position in The Progressive Corporation (NYSE:PGR) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,168 shares of the insurance provider’s stock after selling 24,166 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Progressive were worth $51,160,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PGR. Brighton Jones LLC raised its stake in shares of Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Progressive during the 4th quarter worth $269,000. Bison Wealth LLC raised its position in shares of Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 80 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Progressive by 11.7% in the 2nd quarter. IFP Advisors Inc now owns 5,385 shares of the insurance provider’s stock valued at $1,480,000 after purchasing an additional 563 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new position in Progressive in the second quarter valued at about $98,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In related news, CIO Jonathan S. Bauer sold 3,105 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the completion of the transaction, the executive owned 26,249 shares in the company, valued at approximately $5,363,983.15. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 5,000 shares of Progressive stock in a transaction on Friday, November 28th. The shares were sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the completion of the sale, the chief financial officer owned 223,024 shares in the company, valued at $50,956,523.52. The trade was a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,443 shares of company stock worth $2,723,061. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of recent analyst reports. HSBC cut Progressive from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. William Blair lowered shares of Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Zacks Research cut shares of Progressive from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods lowered their price objective on shares of Progressive from $252.00 to $225.00 and set a “market perform” rating for the company in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Progressive has a consensus rating of “Hold” and a consensus price target of $251.29.

Progressive Price Performance

PGR stock opened at $201.44 on Tuesday. The stock has a 50-day moving average price of $216.67 and a two-hundred day moving average price of $228.89. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $292.99. The stock has a market cap of $118.12 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.25 and a beta of 0.33. The company has a current ratio of 0.38, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were paid a $0.10 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s payout ratio is presently 2.08%.

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.