Fieldview Capital Management LLC Has $952,000 Position in The Progressive Corporation $PGR

Fieldview Capital Management LLC cut its holdings in shares of The Progressive Corporation (NYSE:PGR) by 78.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,179 shares of the insurance provider’s stock after selling 15,049 shares during the quarter. Fieldview Capital Management LLC’s holdings in Progressive were worth $952,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bard Associates Inc. acquired a new position in shares of Progressive during the 4th quarter worth approximately $27,000. Dagco Inc. acquired a new position in shares of Progressive during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. increased its holdings in shares of Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. IFC & Insurance Marketing Inc. acquired a new position in shares of Progressive during the 4th quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Progressive during the 4th quarter worth approximately $33,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.1%

PGR stock opened at $202.86 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $118.54 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 5.89 and a beta of 0.28. The business’s fifty day moving average price is $199.20 and its two-hundred day moving average price is $207.93. The Progressive Corporation has a fifty-two week low of $189.20 and a fifty-two week high of $269.84.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.37 EPS. On average, equities analysts anticipate that The Progressive Corporation will post 16.35 earnings per share for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.03%.

Insiders Place Their Bets

In related news, CAO Carl G. Joyce sold 270 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the transaction, the chief accounting officer owned 558 shares in the company, valued at approximately $115,227. This trade represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Broz sold 1,157 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $231,400.00. Following the completion of the transaction, the insider owned 28,668 shares in the company, valued at $5,733,600. The trade was a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,343 shares of company stock worth $1,470,355 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada set a $208.00 target price on Progressive in a report on Friday, May 22nd. Weiss Ratings cut Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. BMO Capital Markets restated a “market perform” rating and issued a $220.00 price target on shares of Progressive in a research note on Wednesday, May 20th. Wells Fargo & Company increased their price objective on Progressive from $218.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $225.00 price objective on shares of Progressive in a research report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $238.11.

Progressive 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.