Roundview Capital LLC Has $14.73 Million Stock Position in The Progressive Corporation $PGR

Roundview Capital LLC grew its position in shares of The Progressive Corporation (NYSE:PGR) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,664 shares of the insurance provider’s stock after acquiring an additional 3,068 shares during the quarter. Progressive accounts for 0.9% of Roundview Capital LLC’s holdings, making the stock its 23rd biggest position. Roundview Capital LLC’s holdings in Progressive were worth $14,725,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Integrity Alliance LLC. boosted its position in Progressive by 24.0% during the 4th quarter. Integrity Alliance LLC. now owns 16,641 shares of the insurance provider’s stock worth $3,790,000 after acquiring an additional 3,224 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Progressive by 34.4% during the 4th quarter. Bleakley Financial Group LLC now owns 18,039 shares of the insurance provider’s stock worth $4,108,000 after acquiring an additional 4,621 shares during the last quarter. GatePass Capital LLC acquired a new position in Progressive during the 4th quarter worth approximately $376,000. Harbour Investments Inc. boosted its position in Progressive by 96.9% during the 4th quarter. Harbour Investments Inc. now owns 1,705 shares of the insurance provider’s stock worth $388,000 after acquiring an additional 839 shares during the last quarter. Finally, Eukles Asset Management boosted its position in Progressive by 1.5% during the 4th quarter. Eukles Asset Management now owns 20,182 shares of the insurance provider’s stock worth $4,596,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Down 0.2%

PGR opened at $199.05 on Wednesday. The Progressive Corporation has a 1-year low of $191.75 and a 1-year high of $289.96. The stock’s fifty day simple moving average is $200.22 and its 200 day simple moving average is $210.12. 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 stock has a market cap of $116.31 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 7.30 and a beta of 0.31.

Progressive (NYSE:PGR) last posted 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 return on equity of 33.47% and a net margin of 12.92%.The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same quarter in the prior year, the business earned $4.37 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts expect that The Progressive Corporation will post 16.36 earnings per share for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.03%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PGR. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Progressive in a research report on Friday. Zacks Research raised Progressive from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $225.00 price objective on shares of Progressive in a report on Monday, February 23rd. Bank of America cut their price objective on Progressive from $325.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Evercore reissued a “negative” rating on shares of Progressive in a report on Wednesday, March 18th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $238.11.

Insider Buying and Selling at Progressive

In other Progressive news, insider Karen Bailo sold 3,517 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the transaction, the insider owned 32,348 shares in the company, valued at $6,857,776. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Carl G. Joyce sold 270 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the transaction, the chief accounting officer owned 558 shares in the company, valued at $115,227. The trade was a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,928 shares of company stock worth $831,251 in the last quarter. Company insiders own 0.32% of the company’s stock.

About Progressive

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.