The Progressive Co. (NYSE:PGR) Shares Purchased by First Bank & Trust

First Bank & Trust grew its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,170 shares of the insurance provider’s stock after buying an additional 65 shares during the period. First Bank & Trust’s holdings in Progressive were worth $3,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. SG Americas Securities LLC lifted its position in Progressive by 4,545.0% in the first quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock valued at $145,858,000 after acquiring an additional 690,060 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Progressive by 548.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock valued at $167,866,000 after purchasing an additional 686,433 shares during the last quarter. Capital International Investors lifted its holdings in shares of Progressive by 15.7% in the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after purchasing an additional 594,330 shares during the period. Finally, Swedbank AB purchased a new position in Progressive during the 1st quarter worth approximately $116,852,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of NYSE PGR traded down $3.09 during midday trading on Friday, hitting $243.78. The company had a trading volume of 1,594,653 shares, compared to its average volume of 2,476,907. The firm has a market capitalization of $142.77 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The business has a 50-day simple moving average of $250.50 and a two-hundred day simple moving average of $225.33. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s payout ratio is 2.91%.

Analyst Ratings Changes

PGR has been the subject of a number of research reports. Morgan Stanley boosted their price objective on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their price target on shares of Progressive from $281.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Piper Sandler raised their price objective on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, BMO Capital Markets lowered their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.19.

Insider Transactions at Progressive

In related news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,843 shares of company stock valued at $18,674,912 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.