Tilt Investment Management Holdings PBC Has $379,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Tilt Investment Management Holdings PBC lowered its holdings in The Progressive Co. (NYSE:PGR) by 24.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,377 shares of the insurance provider’s stock after selling 757 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Progressive were worth $379,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Giverny Capital Inc. increased its position in Progressive by 2.9% during the third quarter. Giverny Capital Inc. now owns 501,431 shares of the insurance provider’s stock worth $69,849,000 after acquiring an additional 14,022 shares during the period. AIA Group Ltd grew its position in Progressive by 4.9% in the 3rd quarter. AIA Group Ltd now owns 155,427 shares of the insurance provider’s stock worth $21,651,000 after purchasing an additional 7,268 shares during the last quarter. Invesco LLC increased its holdings in shares of Progressive by 2.0% during the 4th quarter. Invesco LLC now owns 3,537 shares of the insurance provider’s stock worth $563,000 after purchasing an additional 70 shares during the period. Strs Ohio raised its position in shares of Progressive by 3.1% during the fourth quarter. Strs Ohio now owns 168,187 shares of the insurance provider’s stock valued at $26,788,000 after buying an additional 4,983 shares during the last quarter. Finally, First Affirmative Financial Network bought a new stake in shares of Progressive in the fourth quarter valued at about $295,000. 85.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

PGR has been the topic of several research reports. Morgan Stanley boosted their price target on Progressive from $228.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group upped their target price on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods raised their target price on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler reissued an “overweight” rating and issued a $240.00 price target on shares of Progressive in a report on Monday, April 1st. Finally, UBS Group increased their price objective on shares of Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $211.88.

Insider Buying and Selling

In other Progressive news, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the sale, the insider now owns 15,189 shares in the company, valued at approximately $2,889,859.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Patrick K. Callahan sold 29,675 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the sale, the insider now directly owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Bailo sold 8,464 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the sale, the insider now directly owns 32,342 shares of the company’s stock, valued at approximately $6,128,485.58. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Progressive Price Performance

Shares of NYSE PGR traded up $0.18 during mid-day trading on Thursday, hitting $209.30. 1,322,071 shares of the stock were exchanged, compared to its average volume of 2,587,151. The Progressive Co. has a twelve month low of $111.41 and a twelve month high of $212.24. The stock’s fifty day simple moving average is $198.74 and its two-hundred day simple moving average is $174.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36. The company has a market cap of $122.59 billion, a P/E ratio of 21.40, a PEG ratio of 0.84 and a beta of 0.35.

Progressive (NYSE:PGR) last released 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 business had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same period in the prior year, the company earned $0.65 EPS. Progressive’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, analysts forecast that The Progressive Co. will post 11.09 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Progressive’s dividend 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.