Sanctuary Advisors LLC Sells 28,236 Shares of The Progressive Co. (NYSE:PGR)

Sanctuary Advisors LLC decreased its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 16.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,115 shares of the insurance provider's stock after selling 28,236 shares during the period. Sanctuary Advisors LLC's holdings in Progressive were worth $37,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PGR. Davis Capital Management bought a new stake in shares of Progressive during the 3rd quarter valued at about $25,000. WR Wealth Planners LLC lifted its position in Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 67 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its stake in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider's stock worth $35,000 after buying an additional 73 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of Progressive in the 2nd quarter worth $36,000. Finally, Sachetta LLC raised its position in shares of Progressive by 34.0% during the 2nd quarter. Sachetta LLC now owns 209 shares of the insurance provider's stock valued at $45,000 after buying an additional 53 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PGR. Keefe, Bruyette & Woods increased their target price on Progressive from $280.00 to $290.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Piper Sandler increased their price objective on Progressive from $250.00 to $252.00 and gave the company an "overweight" rating in a research report on Thursday, August 15th. Jefferies Financial Group raised their price objective on Progressive from $257.00 to $295.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Barclays upped their target price on Progressive from $267.00 to $277.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Finally, Roth Mkm lifted their price target on shares of Progressive from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Progressive presently has a consensus rating of "Moderate Buy" and a consensus target price of $270.69.

Insider Buying and Selling

In related news, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the transaction, the director now directly owns 13,723 shares of the company's stock, valued at $3,462,038.44. This represents a 13.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,839 shares of company stock valued at $6,718,965 over the last quarter. 0.34% of the stock is owned by company insiders.

Progressive Trading Down 0.4 %

Shares of PGR stock traded down $0.95 during mid-day trading on Thursday, reaching $242.78. The stock had a trading volume of 3,608,926 shares, compared to its average volume of 2,480,758. The firm has a market capitalization of $142.22 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 0.70 and a beta of 0.38. The stock's 50-day moving average price is $254.17 and its two-hundred day moving average price is $236.18. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 52-week low of $149.14 and a 52-week high of $270.62.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The company had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. Equities analysts expect that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, January 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive's dividend payout ratio is presently 2.91%.

Progressive Company Profile

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.