Wilkinson Global Asset Management LLC Has $33.70 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Wilkinson Global Asset Management LLC reduced its stake in The Progressive Co. (NYSE:PGR) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,257 shares of the insurance provider’s stock after selling 4,472 shares during the quarter. Progressive comprises 2.1% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 21st largest holding. Wilkinson Global Asset Management LLC’s holdings in Progressive were worth $33,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Gilbert & Cook Inc. lifted its stake in shares of Progressive by 8.6% in the 4th quarter. Gilbert & Cook Inc. now owns 2,938 shares of the insurance provider’s stock valued at $468,000 after purchasing an additional 233 shares during the period. 9258 Wealth Management LLC boosted its holdings in shares of Progressive by 18.8% during the 4th quarter. 9258 Wealth Management LLC now owns 2,534 shares of the insurance provider’s stock worth $404,000 after buying an additional 401 shares in the last quarter. Spire Wealth Management grew its position in shares of Progressive by 6.2% during the 4th quarter. Spire Wealth Management now owns 1,933 shares of the insurance provider’s stock worth $329,000 after buying an additional 112 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of Progressive in the 4th quarter valued at $226,000. Finally, Private Advisor Group LLC lifted its position in shares of Progressive by 6.9% during the 4th quarter. Private Advisor Group LLC now owns 9,883 shares of the insurance provider’s stock valued at $1,574,000 after acquiring an additional 638 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Performance

NYSE:PGR traded down $0.85 during trading hours on Friday, reaching $248.69. The stock had a trading volume of 2,429,465 shares, compared to its average volume of 2,529,093. The Progressive Co. has a 12-month low of $134.34 and a 12-month high of $254.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day simple moving average of $225.47 and a 200 day simple moving average of $212.83. The stock has a market cap of $145.66 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 0.83 and a beta of 0.35.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.61. The business had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.54 billion. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. On average, research analysts forecast that The Progressive Co. will post 12.2 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, October 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio is 4.09%.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 650 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $208.11, for a total value of $135,271.50. Following the completion of the transaction, the chief accounting officer now directly owns 3,981 shares of the company’s stock, valued at $828,485.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Mariann Wojtkun Marshall sold 650 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $208.11, for a total transaction of $135,271.50. Following the sale, the chief accounting officer now directly owns 3,981 shares in the company, valued at $828,485.91. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. The disclosure for this sale can be found here. Insiders have sold 147,354 shares of company stock valued at $33,502,680 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PGR shares. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a report on Monday, August 12th. Morgan Stanley lowered their price target on Progressive from $256.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Citigroup cut their price objective on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Barclays began coverage on shares of Progressive in a research report on Wednesday. They set an “equal weight” rating and a $367.00 price target on the stock. Finally, Evercore ISI boosted their price target on shares of Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.24.

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.