Occidental Asset Management LLC reduced its position in Progressive Corp (NYSE:PGR) by 14.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,303 shares of the insurance provider’s stock after selling 1,914 shares during the quarter. Occidental Asset Management LLC’s holdings in Progressive were worth $903,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Manchester Financial Inc. acquired a new position in shares of Progressive during the 2nd quarter valued at $25,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Progressive during the 1st quarter valued at $26,000. Archford Capital Strategies LLC lifted its position in shares of Progressive by 49.5% during the 2nd quarter. Archford Capital Strategies LLC now owns 408 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 135 shares during the period. Ropes Wealth Advisors LLC acquired a new position in shares of Progressive during the 1st quarter valued at $39,000. Finally, Global Retirement Partners LLC lifted its position in shares of Progressive by 23.9% during the 1st quarter. Global Retirement Partners LLC now owns 841 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 162 shares during the period. 78.51% of the stock is currently owned by institutional investors.

PGR has been the topic of a number of research reports. ValuEngine downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Co restated a “hold” rating and set a $81.00 price objective on shares of Progressive in a report on Thursday. Barclays upped their price objective on shares of Progressive from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, July 1st. Zacks Investment Research downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a report on Monday, May 27th. Finally, Buckingham Research set a $64.00 price objective on shares of Progressive and gave the stock a “hold” rating in a report on Monday, May 13th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Progressive has an average rating of “Buy” and a consensus target price of $82.92.

PGR traded up $1.39 during trading on Thursday, hitting $76.97. 137,650 shares of the company’s stock were exchanged, compared to its average volume of 2,619,716. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average price is $81.23. Progressive Corp has a fifty-two week low of $56.71 and a fifty-two week high of $84.96. The company has a market cap of $46.20 billion, a PE ratio of 17.25, a P/E/G ratio of 2.01 and a beta of 0.66.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, July 17th. The insurance provider reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.23. Progressive had a net margin of 9.19% and a return on equity of 28.12%. The firm had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts expect that Progressive Corp will post 5.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, October 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, October 4th. This represents a $0.40 annualized dividend and a yield of 0.52%. Progressive’s payout ratio is 9.05%.

In other news, CFO John P. Sauerland sold 12,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $78.07, for a total value of $936,840.00. Following the completion of the sale, the chief financial officer now owns 347,815 shares in the company, valued at $27,153,917.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael D. Sieger sold 7,500 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $79.16, for a total transaction of $593,700.00. Following the completion of the sale, the insider now owns 68,969 shares of the company’s stock, valued at approximately $5,459,586.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,500 shares of company stock valued at $3,727,890. 0.39% of the stock is currently owned by corporate insiders.

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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