Zions Bancorporation N.A. trimmed its holdings in Progressive Corp (NYSE:PGR) by 39.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,052 shares of the insurance provider’s stock after selling 684 shares during the quarter. Zions Bancorporation N.A.’s holdings in Progressive were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Progressive in the first quarter valued at approximately $26,000. Liberty Wealth Management LLC bought a new stake in shares of Progressive in the fourth quarter valued at approximately $30,000. Ropes Wealth Advisors LLC bought a new stake in shares of Progressive in the first quarter valued at approximately $39,000. Dubuque Bank & Trust Co. boosted its position in shares of Progressive by 90.2% in the first quarter. Dubuque Bank & Trust Co. now owns 544 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 258 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Progressive by 134.9% in the fourth quarter. Global Retirement Partners LLC now owns 679 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 390 shares during the period. 79.12% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Raymond James increased their price objective on Spotify Technology from $172.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Thursday. Buckingham Research set a $64.00 target price on Progressive and gave the stock a “hold” rating in a research report on Monday, May 13th. Janney Montgomery Scott began coverage on Progressive in a research report on Thursday, June 20th. They issued a “neutral” rating and a $59.00 target price for the company. Credit Suisse Group reaffirmed an “underperform” rating on shares of MARKS & SPENCER/S in a research report on Wednesday, April 17th. Finally, UBS Group set a $25.00 target price on Macy’s and gave the stock a “hold” rating in a research report on Friday, May 17th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Progressive presently has an average rating of “Buy” and an average target price of $81.23.

In other Progressive news, CFO John P. Sauerland sold 12,000 shares of Progressive stock in a transaction on Friday, May 17th. The stock was sold at an average price of $78.07, for a total transaction of $936,840.00. Following the completion of the transaction, the chief financial officer now directly owns 347,815 shares of the company’s stock, valued at $27,153,917.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Patricia Griffith sold 22,500 shares of Progressive stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $78.01, for a total value of $1,755,225.00. Following the transaction, the insider now directly owns 250,162 shares of the company’s stock, valued at $19,515,137.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,350 shares of company stock valued at $5,383,467. Company insiders own 0.39% of the company’s stock.

PGR stock traded up $0.52 during midday trading on Friday, hitting $81.70. The stock had a trading volume of 1,273,166 shares, compared to its average volume of 2,714,515. The firm has a market capitalization of $47.71 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.69. Progressive Corp has a 52 week low of $56.71 and a 52 week high of $84.96. The stock’s 50-day simple moving average is $81.86. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.33.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, July 17th. The insurance provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.13 billion. Progressive had a return on equity of 27.82% and a net margin of 9.19%. Progressive’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $1.19 earnings per share. Equities analysts forecast that Progressive Corp will post 5.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, July 5th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. Progressive’s payout ratio is presently 9.05%.

About Progressive

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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