The Progressive Co. (NYSE:PGR) is Dudley & Shanley Inc.’s 8th Largest Position

Dudley & Shanley Inc. trimmed its holdings in The Progressive Co. (NYSE:PGR) by 38.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,315 shares of the insurance provider’s stock after selling 81,195 shares during the quarter. Progressive comprises about 4.5% of Dudley & Shanley Inc.’s investment portfolio, making the stock its 8th biggest holding. Dudley & Shanley Inc.’s holdings in Progressive were worth $26,952,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Balentine LLC increased its stake in shares of Progressive by 0.3% in the 4th quarter. Balentine LLC now owns 22,162 shares of the insurance provider’s stock worth $3,530,000 after acquiring an additional 58 shares in the last quarter. Compass Ion Advisors LLC increased its stake in shares of Progressive by 0.8% in the 4th quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock worth $1,186,000 after acquiring an additional 59 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of Progressive by 1.9% in the 4th quarter. Independent Advisor Alliance now owns 3,438 shares of the insurance provider’s stock worth $548,000 after acquiring an additional 64 shares in the last quarter. Winslow Asset Management Inc. increased its stake in shares of Progressive by 0.8% in the 4th quarter. Winslow Asset Management Inc. now owns 8,579 shares of the insurance provider’s stock worth $1,366,000 after acquiring an additional 67 shares in the last quarter. Finally, Waterloo Capital L.P. increased its stake in shares of Progressive by 0.7% in the 4th quarter. Waterloo Capital L.P. now owns 9,481 shares of the insurance provider’s stock worth $1,510,000 after acquiring an additional 68 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progressive

In other Progressive news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Progressive news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 650 shares of Progressive stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $208.11, for a total transaction of $135,271.50. Following the transaction, the chief accounting officer now directly owns 3,981 shares in the company, valued at approximately $828,485.91. The disclosure for this sale can be found here. Insiders have sold 34,518 shares of company stock valued at $7,159,674 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Progressive Stock Performance

Shares of PGR traded down $0.85 on Wednesday, reaching $210.27. The company’s stock had a trading volume of 1,284,905 shares, compared to its average volume of 2,580,534. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $123.16 billion, a P/E ratio of 21.45, a PEG ratio of 0.80 and a beta of 0.35. The stock’s 50 day simple moving average is $209.36 and its two-hundred day simple moving average is $194.64. The Progressive Co. has a 12-month low of $111.41 and a 12-month high of $217.77.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. The company had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Research analysts forecast that The Progressive Co. will post 11.27 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on PGR shares. Roth Mkm reiterated a “buy” rating and issued a $235.00 price target on shares of Progressive in a research note on Wednesday, June 26th. HSBC raised their price objective on shares of Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. UBS Group raised 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, April 17th. Jefferies Financial Group raised their price objective on shares of Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One research 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. Based on data from MarketBeat.com, Progressive has an average rating of “Hold” and a consensus price target of $216.81.

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.