The Progressive Co. (NYSE:PGR) Shares Acquired by Intrust Bank NA

Intrust Bank NA lifted its stake in The Progressive Co. (NYSE:PGR) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,489 shares of the insurance provider’s stock after purchasing an additional 156 shares during the period. Intrust Bank NA’s holdings in Progressive were worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGR. Larson Financial Group LLC raised its holdings in shares of Progressive by 541.2% in the 3rd quarter. Larson Financial Group LLC now owns 218 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 184 shares in the last quarter. Townsquare Capital LLC raised its stake in Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after buying an additional 3,720 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in Progressive during the 3rd quarter worth about $230,000. Icon Wealth Advisors LLC boosted its position in shares of Progressive by 2.7% during the 3rd quarter. Icon Wealth Advisors LLC now owns 2,457 shares of the insurance provider’s stock worth $623,000 after acquiring an additional 65 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Progressive by 2.7% in the 3rd quarter. Captrust Financial Advisors now owns 30,748 shares of the insurance provider’s stock valued at $7,803,000 after acquiring an additional 806 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Up 1.6 %

Shares of NYSE:PGR opened at $279.13 on Friday. The company has a market cap of $163.64 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.70 and a beta of 0.35. The Progressive Co. has a fifty-two week low of $201.34 and a fifty-two week high of $292.99. The firm’s 50-day simple moving average is $265.32 and its 200-day simple moving average is $255.86. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, equities research analysts predict that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s payout ratio is 2.78%.

Analysts Set New Price Targets

PGR has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company increased their target price on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. UBS Group boosted their price target on shares of Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Finally, Barclays boosted their target price on Progressive from $264.00 to $285.00 and gave the company an “equal weight” rating in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $281.06.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 1,542 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $282.66, for a total value of $435,861.72. Following the completion of the transaction, the chief financial officer now directly owns 268,024 shares of the company’s stock, valued at approximately $75,759,663.84. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Devin C. Johnson sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total value of $110,016.00. Following the sale, the director now directly owns 8,370 shares in the company, valued at $2,302,084.80. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,255 shares of company stock valued at $16,877,471. 0.34% of the stock is owned by company 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.