The Progressive Co. (NYSE:PGR) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its position in The Progressive Co. (NYSE:PGR - Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,821 shares of the insurance provider's stock after selling 38,294 shares during the period. Sanctuary Advisors LLC's holdings in Progressive were worth $25,376,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PGR. Raleigh Capital Management Inc. raised its position in Progressive by 20.9% during the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider's stock valued at $60,000 after purchasing an additional 41 shares during the period. Atlantic Edge Private Wealth Management LLC raised its position in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 41 shares during the period. LRI Investments LLC raised its position in Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider's stock valued at $76,000 after purchasing an additional 42 shares during the period. SYM FINANCIAL Corp grew its stake in shares of Progressive by 2.8% during the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider's stock valued at $384,000 after buying an additional 44 shares during the last quarter. Finally, Monument Capital Management grew its stake in shares of Progressive by 0.3% during the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider's stock valued at $3,298,000 after buying an additional 44 shares during the last quarter. Institutional investors own 85.34% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on PGR. Hsbc Global Res cut Progressive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Raymond James raised Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 target price on the stock in a research note on Thursday, December 26th. Bank of America upped their target price on Progressive from $331.00 to $335.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Evercore ISI upped their target price on Progressive from $277.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Finally, HSBC cut Progressive from a "buy" rating to a "hold" rating and set a $267.00 target price on the stock. in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $276.12.

Progressive Stock Down 0.6 %

Shares of PGR traded down $1.68 during midday trading on Friday, hitting $265.99. 2,567,348 shares of the company's stock traded hands, compared to its average volume of 2,505,890. The Progressive Co. has a 1 year low of $186.94 and a 1 year high of $270.79. The firm's fifty day moving average is $246.89 and its 200-day moving average is $248.87. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $155.82 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.42.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, sell-side analysts anticipate that The Progressive Co. will post 14.5 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive's dividend payout ratio is presently 2.78%.

Insider Activity

In related news, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares in the company, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares of the company's stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,361 shares of company stock worth $13,983,575. Insiders own 0.34% of the company's stock.

Progressive 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.