The Progressive Co. (NYSE:PGR) Shares Sold by Dudley & Shanley Inc.

Dudley & Shanley Inc. lessened its stake in shares of The Progressive Co. (NYSE:PGRFree Report) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,510 shares of the insurance provider’s stock after selling 5,030 shares during the period. Progressive accounts for 6.0% of Dudley & Shanley Inc.’s portfolio, making the stock its 2nd largest holding. Dudley & Shanley Inc.’s holdings in Progressive were worth $33,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of PGR. Harbour Investments Inc. grew its stake in shares of Progressive by 109.1% in the third quarter. Harbour Investments Inc. now owns 207 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 108 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Progressive during the first quarter valued at about $31,000. DecisionPoint Financial LLC acquired a new position in shares of Progressive in the second quarter valued at $35,000. Neo Ivy Capital Management bought a new position in Progressive in the second quarter worth $35,000. Finally, Arlington Trust Co LLC bought a new stake in Progressive in the third quarter valued at about $36,000. 83.66% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Susan Patricia Griffith sold 13,110 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total value of $2,127,228.60. Following the sale, the chief executive officer now directly owns 465,737 shares of the company’s stock, valued at $75,570,485.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Susan Patricia Griffith sold 13,110 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total transaction of $2,127,228.60. Following the sale, the chief executive officer now owns 465,737 shares of the company’s stock, valued at approximately $75,570,485.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 551 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total value of $93,251.24. Following the sale, the insider now owns 27,921 shares in the company, valued at $4,725,350.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,949 shares of company stock worth $10,671,740. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PGR shares. Citigroup lifted their price objective on Progressive from $192.00 to $202.00 and gave the company a “neutral” rating in a report on Monday. Roth Mkm upped their price objective on shares of Progressive from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler raised their price target on Progressive from $188.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Morgan Stanley raised Progressive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $185.00 to $227.00 in a research note on Wednesday, March 6th. Finally, UBS Group lifted their price target on Progressive from $159.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.39.

Read Our Latest Stock Analysis on Progressive

Progressive Stock Performance

NYSE:PGR traded down $0.15 during mid-day trading on Thursday, hitting $205.57. 3,396,739 shares of the stock were exchanged, compared to its average volume of 2,440,260. The firm’s 50-day simple moving average is $185.87 and its 200 day simple moving average is $164.82. The stock has a market capitalization of $120.40 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 0.94 and a beta of 0.34. The Progressive Co. has a fifty-two week low of $111.41 and a fifty-two week high of $207.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31.

Progressive (NYSE:PGRGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.53. The business had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.10 billion. Progressive had a return on equity of 21.25% and a net margin of 6.28%. During the same quarter in the prior year, the business posted $1.52 earnings per share. As a group, equities analysts anticipate that The Progressive Co. will post 9.82 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, April 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Wednesday, April 3rd. Progressive’s dividend payout ratio is presently 12.92%.

Progressive Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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