Chilton Capital Management LLC Has $288,000 Position in The Progressive Co. (NYSE:PGR)

Chilton Capital Management LLC cut its stake in The Progressive Co. (NYSE:PGR) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,391 shares of the insurance provider’s stock after selling 124 shares during the quarter. Chilton Capital Management LLC’s holdings in Progressive were worth $288,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Balentine LLC increased its position in Progressive by 0.3% during the fourth quarter. Balentine LLC now owns 22,162 shares of the insurance provider’s stock worth $3,530,000 after acquiring an additional 58 shares during the period. Compass Ion Advisors LLC lifted its position in shares of Progressive by 0.8% in the 4th quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock worth $1,186,000 after purchasing an additional 59 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Progressive by 3.2% in the 1st quarter. Proficio Capital Partners LLC now owns 2,053 shares of the insurance provider’s stock valued at $425,000 after acquiring an additional 63 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of Progressive by 1.9% in the 4th quarter. Independent Advisor Alliance now owns 3,438 shares of the insurance provider’s stock valued at $548,000 after acquiring an additional 64 shares in the last quarter. Finally, Choreo LLC increased its stake in shares of Progressive by 0.8% in the 1st quarter. Choreo LLC now owns 8,560 shares of the insurance provider’s stock valued at $1,770,000 after acquiring an additional 64 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PGR. Jefferies Financial Group boosted their price target on shares of Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Piper Sandler restated an “overweight” rating and set a $240.00 price target on shares of Progressive in a research note on Monday, April 1st. Bank of America cut their price objective on shares of Progressive from $281.00 to $276.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $210.00 to $239.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $218.50.

Insider Activity

In other news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Progressive news, CAO Mariann Wojtkun Marshall sold 650 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $208.11, for a total transaction of $135,271.50. Following the completion of the transaction, the chief accounting officer now owns 3,981 shares in the company, valued at $828,485.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total transaction of $208,330.00. Following the sale, the director now directly owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The disclosure for this sale can be found here. Insiders sold 34,518 shares of company stock worth $7,159,674 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Progressive Trading Up 1.8 %

Shares of NYSE:PGR traded up $3.80 during trading on Monday, reaching $217.10. 2,121,639 shares of the company traded hands, compared to its average volume of 2,563,268. The firm has a market capitalization of $127.16 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 0.83 and a beta of 0.35. The Progressive Co. has a 52-week low of $117.64 and a 52-week high of $217.77. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is $209.57 and its 200-day moving average is $197.66.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The company had revenue of $18.96 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. As a group, analysts forecast that The Progressive Co. will post 11.24 EPS for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend was Wednesday, July 3rd. Progressive’s dividend payout ratio is currently 4.09%.

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.