The Progressive Co. (NYSE:PGR) is Dudley & Shanley Inc.’s 8th Largest Position

Dudley & Shanley Inc. decreased its position in shares of The Progressive Co. (NYSE:PGR) by 38.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,315 shares of the insurance provider’s stock after selling 81,195 shares during the period. Progressive comprises 4.5% of Dudley & Shanley Inc.’s investment portfolio, making the stock its 8th biggest position. Dudley & Shanley Inc.’s holdings in Progressive were worth $26,952,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Balentine LLC raised its position in Progressive by 0.3% in the 4th quarter. Balentine LLC now owns 22,162 shares of the insurance provider’s stock valued at $3,530,000 after purchasing an additional 58 shares in the last quarter. Compass Ion Advisors LLC raised its position in Progressive by 0.8% in the 4th quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock valued at $1,186,000 after purchasing an additional 59 shares in the last quarter. Independent Advisor Alliance raised its position in Progressive by 1.9% in the 4th quarter. Independent Advisor Alliance now owns 3,438 shares of the insurance provider’s stock valued at $548,000 after purchasing an additional 64 shares in the last quarter. Winslow Asset Management Inc. raised its position in Progressive by 0.8% in the 4th quarter. Winslow Asset Management Inc. now owns 8,579 shares of the insurance provider’s stock valued at $1,366,000 after purchasing an additional 67 shares in the last quarter. Finally, Waterloo Capital L.P. raised its position in Progressive by 0.7% in the 4th quarter. Waterloo Capital L.P. now owns 9,481 shares of the insurance provider’s stock valued at $1,510,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. Bank of America raised their target price on Progressive from $279.00 to $286.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Keefe, Bruyette & Woods raised their target price on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Piper Sandler restated an “overweight” rating and set a $240.00 price target on shares of Progressive in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $216.81.

Progressive Stock Down 0.4 %

Shares of NYSE:PGR traded down $0.85 during midday trading on Wednesday, hitting $210.27. 1,284,905 shares of the stock were exchanged, compared to its average volume of 2,580,534. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $123.16 billion, a PE ratio of 21.45, a P/E/G ratio of 0.80 and a beta of 0.35. The Progressive Co. has a 52-week low of $111.41 and a 52-week high of $217.77. The business’s fifty day simple moving average is $209.36 and its two-hundred day simple moving average is $194.64.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.74. The firm had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. As a group, research analysts predict that The Progressive Co. will post 11.27 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Wednesday, July 3rd. Progressive’s payout ratio is 4.09%.

Insider Buying and Selling at Progressive

In related news, Director Devin C. Johnson sold 1,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the transaction, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Devin C. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the sale, the director now directly owns 7,176 shares in the company, valued at approximately $1,494,976.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Broz sold 7,361 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $207.25, for a total transaction of $1,525,567.25. Following the completion of the sale, the insider now owns 35,503 shares of the company’s stock, valued at $7,357,996.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,518 shares of company stock worth $7,159,674. Insiders own 0.34% of the company’s stock.

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.