Blair William & Co. IL Sells 66,265 Shares of The Progressive Corporation $PGR

Blair William & Co. IL trimmed its holdings in shares of The Progressive Corporation (NYSE:PGR) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,439,156 shares of the insurance provider’s stock after selling 66,265 shares during the quarter. Progressive comprises about 0.9% of Blair William & Co. IL’s holdings, making the stock its 18th largest position. Blair William & Co. IL owned 0.25% of Progressive worth $355,400,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after acquiring an additional 457 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Progressive in the 4th quarter worth $269,000. Bison Wealth LLC lifted its stake in Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in Progressive by 2.8% in the second quarter. Crestwood Advisors Group LLC now owns 3,433 shares of the insurance provider’s stock worth $916,000 after purchasing an additional 95 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Progressive by 7.3% during the second quarter. First Horizon Advisors Inc. now owns 2,388 shares of the insurance provider’s stock valued at $637,000 after buying an additional 162 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of analyst reports. Jefferies Financial Group set a $216.00 price target on Progressive in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods increased their target price on shares of Progressive from $225.00 to $232.00 and gave the stock a “market perform” rating in a report on Thursday, February 19th. Mizuho set a $240.00 price target on Progressive in a report on Wednesday, January 14th. Piper Sandler reaffirmed an “overweight” rating and set a $259.00 price target on shares of Progressive in a research report on Monday. Finally, Wells Fargo & Company cut their price objective on Progressive from $220.00 to $214.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $245.50.

Insider Buying and Selling at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 2,266 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $203.05, for a total value of $460,111.30. Following the sale, the executive owned 26,250 shares in the company, valued at approximately $5,330,062.50. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Quigg sold 1,649 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the transaction, the insider directly owned 39,626 shares of the company’s stock, valued at $8,097,573.10. This represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,103 shares of company stock valued at $1,883,924 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Up 0.2%

Shares of NYSE:PGR opened at $210.92 on Friday. The firm has a market capitalization of $123.58 billion, a P/E ratio of 10.96, a P/E/G ratio of 9.20 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.35. The stock has a 50 day moving average price of $208.98 and a 200-day moving average price of $224.16. The Progressive Corporation has a 52-week low of $197.92 and a 52-week high of $292.99.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 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.