Greenleaf Trust Purchases 80 Shares of The Progressive Co. (NYSE:PGR)

Greenleaf Trust boosted its position in shares of The Progressive Co. (NYSE:PGR) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,138 shares of the insurance provider’s stock after purchasing an additional 80 shares during the period. Greenleaf Trust’s holdings in Progressive were worth $2,908,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PGR. Czech National Bank increased its holdings in Progressive by 6.9% during the 3rd quarter. Czech National Bank now owns 119,306 shares of the insurance provider’s stock worth $30,275,000 after purchasing an additional 7,696 shares in the last quarter. HBW Advisory Services LLC bought a new position in Progressive during the 3rd quarter worth about $249,000. GAMMA Investing LLC increased its holdings in Progressive by 28.9% during the 3rd quarter. GAMMA Investing LLC now owns 7,380 shares of the insurance provider’s stock worth $1,873,000 after purchasing an additional 1,655 shares in the last quarter. WealthBridge Capital Management LLC increased its holdings in Progressive by 1.9% during the 3rd quarter. WealthBridge Capital Management LLC now owns 8,243 shares of the insurance provider’s stock worth $2,092,000 after purchasing an additional 156 shares in the last quarter. Finally, Diversified Trust Co increased its holdings in Progressive by 84.3% during the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after purchasing an additional 11,770 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PGR shares. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Barclays decreased their price objective on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company raised their price objective on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday. Finally, TD Cowen raised their price objective on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Progressive Trading Down 1.0 %

Shares of PGR stock opened at $246.78 on Monday. The firm has a 50 day moving average price of $247.01 and a two-hundred day moving average price of $244.75. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $144.57 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.63 and a beta of 0.42. The Progressive Co. has a 12-month low of $176.37 and a 12-month high of $270.62.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, analysts predict that The Progressive Co. will post 14.4 earnings per share for the current year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the transaction, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. This trade represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by company insiders.

About Progressive

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.