The Progressive Co. (NYSE:PGR) Shares Bought by Monument Capital Management

Monument Capital Management grew its holdings in shares of The Progressive Co. (NYSE:PGR) by 414.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,291 shares of the insurance provider’s stock after acquiring an additional 10,706 shares during the quarter. Monument Capital Management’s holdings in Progressive were worth $2,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGR. Sachetta LLC bought a new stake in shares of Progressive in the 4th quarter worth $25,000. Northwest Bank & Trust Co bought a new stake in shares of Progressive in the 4th quarter worth $25,000. Valley National Advisers Inc. raised its stake in shares of Progressive by 143.6% in the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after buying an additional 112 shares in the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Progressive in the 1st quarter worth $32,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Progressive in the 1st quarter worth $35,000. Institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $240.00 price objective on shares of Progressive in a research note on Monday, April 1st. Bank of America boosted 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. Morgan Stanley cut their target price on Progressive from $256.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. UBS Group boosted their target price on Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $235.00 target price on shares of Progressive in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $216.81.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 12,457 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total value of $2,546,584.51. Following the transaction, the chief financial officer now owns 312,958 shares in the company, valued at $63,978,003.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $210.40, for a total transaction of $2,104,000.00. Following the completion of the sale, the chief financial officer now owns 302,958 shares in the company, valued at approximately $63,742,363.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO John P. Sauerland sold 12,457 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total value of $2,546,584.51. Following the sale, the chief financial officer now owns 312,958 shares of the company’s stock, valued at approximately $63,978,003.94. The disclosure for this sale can be found here. Insiders have sold 34,518 shares of company stock worth $7,159,674 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Progressive Stock Down 0.6 %

NYSE:PGR traded down $1.34 during trading hours on Wednesday, hitting $209.78. 379,364 shares of the company’s stock traded hands, compared to its average volume of 2,573,404. The firm has a market cap of $122.87 billion, a P/E ratio of 21.45, a P/E/G ratio of 0.80 and a beta of 0.35. The Progressive Co. has a twelve month low of $111.41 and a twelve month high of $217.77. 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 stock’s fifty day moving average price is $209.36 and its two-hundred day moving average price is $194.64.

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

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. Progressive’s dividend payout ratio (DPR) is currently 4.09%.

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.