Woodmont Investment Counsel LLC Has $985,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Woodmont Investment Counsel LLC grew its stake in The Progressive Co. (NYSE:PGR) by 41.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,764 shares of the insurance provider’s stock after buying an additional 1,390 shares during the period. Woodmont Investment Counsel LLC’s holdings in Progressive were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachetta LLC acquired a new stake in shares of Progressive in the fourth quarter valued at about $25,000. Northwest Bank & Trust Co acquired a new stake in shares of Progressive in the fourth quarter valued at about $25,000. Valley National Advisers Inc. increased its stake in shares of Progressive by 143.6% in the fourth quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock valued at $30,000 after buying an additional 112 shares during the period. Indiana Trust & Investment Management CO acquired a new stake in shares of Progressive in the first quarter valued at about $32,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Progressive during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Roth Mkm restated a “buy” rating and set a $235.00 target price on shares of Progressive in a research report on Wednesday, June 26th. Bank of America upped their target price on Progressive from $279.00 to $286.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. HSBC upped their target price on Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Citigroup upped their target price on Progressive from $230.00 to $232.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $216.81.

Insider Activity at Progressive

In related news, CFO John P. Sauerland sold 12,457 shares of Progressive stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total transaction of $2,546,584.51. Following the transaction, the chief financial officer now owns 312,958 shares of the company’s stock, valued at $63,978,003.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO John P. Sauerland sold 12,457 shares of Progressive stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total transaction of $2,546,584.51. Following the transaction, the chief financial officer now owns 312,958 shares of the company’s stock, valued at $63,978,003.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the sale, the director now owns 7,176 shares in the company, valued at $1,494,976.08. The disclosure for this sale can be found here. Insiders have sold a total of 34,518 shares of company stock valued at $7,159,674 over the last 90 days. Insiders own 0.34% of the company’s stock.

Progressive Stock Up 0.8 %

Shares of NYSE:PGR opened at $211.12 on Wednesday. The stock has a market cap of $123.65 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 0.80 and a beta of 0.35. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $217.77. The business’s 50 day moving average is $209.42 and its 200 day moving average is $194.23.

Progressive (NYSE:PGR) last announced its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.74. The company had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. Progressive’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, sell-side analysts forecast that The Progressive Co. will post 11.27 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, July 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. Progressive’s payout ratio is 4.09%.

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.