Bank Julius Baer & Co. Ltd Zurich Sells 37,795 Shares of The Progressive Corporation $PGR

Bank Julius Baer & Co. Ltd Zurich lowered its holdings in shares of The Progressive Corporation (NYSE:PGR) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,875,074 shares of the insurance provider’s stock after selling 37,795 shares during the period. Progressive accounts for approximately 1.2% of Bank Julius Baer & Co. Ltd Zurich’s holdings, making the stock its 17th largest position. Bank Julius Baer & Co. Ltd Zurich’s holdings in Progressive were worth $427,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGR. Brighton Jones LLC grew its holdings in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after purchasing an additional 457 shares during the period. Revolve Wealth Partners LLC bought a new position in Progressive during the fourth quarter worth about $269,000. Bison Wealth LLC grew its holdings in Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the period. HUB Investment Partners LLC grew its holdings in Progressive by 7.8% during the second quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock worth $609,000 after purchasing an additional 166 shares during the period. Finally, Diversify Wealth Management LLC boosted its holdings in shares of Progressive by 12.0% during the second quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock worth $3,681,000 after acquiring an additional 1,622 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other news, CAO Carl G. Joyce sold 270 shares of Progressive stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $206.50, for a total value of $55,755.00. Following the completion of the sale, the chief accounting officer directly owned 558 shares in the company, valued at approximately $115,227. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. The trade was a 9.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,933 shares of company stock valued at $1,441,564 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PGR. Argus upgraded Progressive to a “hold” rating in a report on Thursday, March 5th. Bank of America boosted their price objective on Progressive from $295.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Evercore restated a “negative” rating on shares of Progressive in a report on Wednesday, March 18th. Zacks Research upgraded Progressive from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Barclays set a $247.00 price objective on Progressive in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Progressive has an average rating of “Hold” and an average price target of $238.39.

Progressive Stock Down 1.2%

NYSE PGR opened at $196.09 on Thursday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The Progressive Corporation has a 1-year low of $191.75 and a 1-year high of $289.96. The company has a 50 day moving average of $201.58 and a 200-day moving average of $210.73. The company has a market cap of $114.58 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 5.74 and a beta of 0.31.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. During the same period in the previous year, the business earned $4.37 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that The Progressive Corporation will post 16.4 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, July 2nd. Progressive’s payout ratio is presently 2.03%.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive continued its shareholder-return program by declaring a quarterly dividend of $0.10 per share, reinforcing management’s commitment to returning capital to investors. Progressive stock overview
• Positive Sentiment: Recent coverage highlighted Progressive’s CFO transition alongside an ongoing buyback plan, which suggests management is still focused on disciplined capital allocation and supporting shareholder value. Does Progressive’s (PGR) CFO Transition and Buyback Plan Reveal a Deeper Capital Allocation Strategy?
• Neutral Sentiment: The dividend announcement is small in absolute terms and appears to be a standard, expected update, so it is unlikely to materially change near-term fundamentals on its own.
• Negative Sentiment: With no new earnings beat or guidance raise in the latest headlines, the stock may be under pressure from broader profit-taking and investor focus on valuation after a strong prior run.

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.