ORG Partners LLC Sells 442 Shares of The Progressive Co. (NYSE:PGR)

ORG Partners LLC lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 21.3% during the third quarter, HoldingsChannel.com reports. The firm owned 1,638 shares of the insurance provider’s stock after selling 442 shares during the quarter. ORG Partners LLC’s holdings in Progressive were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Davis Capital Management acquired a new stake in Progressive during the third quarter worth approximately $25,000. WR Wealth Planners LLC increased its position in shares of Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 67 shares during the period. Indiana Trust & Investment Management CO acquired a new position in Progressive in the first quarter valued at about $32,000. Hilltop National Bank lifted its position in Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the period. Finally, Register Financial Advisors LLC bought a new position in Progressive in the 1st quarter valued at about $35,000. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Progressive

In other news, insider Andrew J. Quigg sold 3,975 shares of Progressive stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $850,689.75. Following the completion of the transaction, the insider now directly owns 32,780 shares of the company’s stock, valued at approximately $7,015,247.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Andrew J. Quigg sold 3,975 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $214.01, for a total transaction of $850,689.75. Following the completion of the sale, the insider now owns 32,780 shares of the company’s stock, valued at $7,015,247.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the transaction, the insider now owns 29,334 shares in the company, valued at $7,626,840. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,512 shares of company stock valued at $33,912,874. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PGR has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Keefe, Bruyette & Woods raised their target price on Progressive from $255.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Jefferies Financial Group upped their price objective on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America lifted their target price on Progressive from $309.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Citigroup reduced their price target on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $260.53.

Progressive Price Performance

Shares of PGR opened at $251.88 on Tuesday. The business has a 50-day moving average of $246.02 and a 200-day moving average of $223.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $147.53 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $260.46.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.61. Progressive had a net margin of 10.17% and a return on equity of 33.01%. The firm had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.54 billion. During the same quarter last year, the business earned $0.57 EPS. The company’s revenue was up 21.6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Progressive Co. will post 13.07 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s payout ratio is 4.09%.

About Progressive

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.