CVA Family Office LLC Has $215,000 Stock Position in The Progressive Co. (NYSE:PGR)

CVA Family Office LLC lifted its holdings in The Progressive Co. (NYSE:PGR) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 849 shares of the insurance provider’s stock after purchasing an additional 78 shares during the period. CVA Family Office LLC’s holdings in Progressive were worth $215,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Progressive by 0.6% in the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after purchasing an additional 285,070 shares during the period. Capital International Investors boosted its holdings in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after acquiring an additional 670,006 shares during the period. Legal & General Group Plc grew its position in shares of Progressive by 1.9% in the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Progressive by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Progressive by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after purchasing an additional 244,541 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Performance

Shares of NYSE:PGR opened at $254.09 on Monday. The stock has a market capitalization of $148.82 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The business’s fifty day moving average price is $245.20 and its two-hundred day moving average price is $222.71. The Progressive Co. has a fifty-two week low of $142.87 and a fifty-two week high of $260.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Progressive (NYSE:PGR) last announced its earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.61. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.54 billion. Progressive had a net margin of 10.17% and a return on equity of 33.01%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. As a group, analysts predict that The Progressive Co. will post 13.07 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio (DPR) is currently 4.09%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI lifted their price target on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods upped their target price on shares of Progressive from $255.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler upped their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lifted their target price on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Six investment 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. According to data from MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and an average price target of $260.53.

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 22,708 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $4,859,739.08. Following the completion of the transaction, the chief financial officer now owns 302,958 shares in the company, valued at approximately $64,836,041.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO John P. Sauerland sold 22,708 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $4,859,739.08. Following the completion of the sale, the chief financial officer now directly owns 302,958 shares in the company, valued at approximately $64,836,041.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Philip Bleser sold 2,129 shares of Progressive stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $219.08, for a total value of $466,421.32. Following the completion of the transaction, the director now directly owns 974 shares of the company’s stock, valued at $213,383.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,512 shares of company stock valued at $33,912,874 in the last three months. 0.34% of the stock is owned by corporate insiders.

Progressive 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.