The Progressive Corporation $PGR Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA decreased its holdings in shares of The Progressive Corporation (NYSE:PGR) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 912,857 shares of the insurance provider’s stock after selling 16,339 shares during the period. Progressive comprises approximately 14.0% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its biggest holding. Mcdonald Capital Investors Inc. CA’s holdings in Progressive were worth $225,430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC boosted its holdings in Progressive by 4.2% during the second quarter. CVA Family Office LLC now owns 1,053 shares of the insurance provider’s stock worth $281,000 after buying an additional 42 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Progressive by 20.8% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 44 shares during the last quarter. Maia Wealth LLC boosted its stake in shares of Progressive by 5.4% during the 2nd quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock worth $229,000 after acquiring an additional 44 shares in the last quarter. Trail Ridge Investment Advisors LLC grew its holdings in shares of Progressive by 1.6% in the 2nd quarter. Trail Ridge Investment Advisors LLC now owns 2,906 shares of the insurance provider’s stock worth $775,000 after acquiring an additional 45 shares during the last quarter. Finally, Selective Wealth Management Inc. raised its position in shares of Progressive by 2.1% during the third quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider’s stock worth $538,000 after purchasing an additional 45 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progressive

In related news, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $336,973.15. Following the completion of the sale, the insider directly owned 39,626 shares in the company, valued at approximately $8,097,573.10. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CIO Jonathan S. Bauer sold 3,105 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive directly owned 26,249 shares in the company, valued at $5,363,983.15. The trade was a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,098 shares of company stock worth $2,416,011 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Progressive Trading Up 1.1%

NYSE:PGR opened at $204.07 on Monday. The company has a market capitalization of $119.67 billion, a P/E ratio of 10.61, a P/E/G ratio of 8.92 and a beta of 0.33. The stock’s 50 day moving average price is $212.67 and its 200 day moving average price is $226.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.38. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $292.99.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is currently 2.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PGR shares. Zacks Research lowered Progressive from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Roth Mkm set a $235.00 target price on shares of Progressive in a report on Thursday. Morgan Stanley cut their price target on shares of Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a report on Wednesday, January 28th. UBS Group set a $226.00 price target on shares of Progressive in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $245.29.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.