The Progressive Co. (NYSE:PGR) Shares Purchased by AMG National Trust Bank

AMG National Trust Bank boosted its position in shares of The Progressive Co. (NYSE:PGR) by 28.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,027 shares of the insurance provider’s stock after purchasing an additional 228 shares during the period. AMG National Trust Bank’s holdings in Progressive were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC grew its position in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC grew its position in Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares in the last quarter. SYM FINANCIAL Corp grew its position in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 44 shares in the last quarter. Monument Capital Management grew its position in Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after purchasing an additional 44 shares in the last quarter. Finally, Kelleher Financial Advisors grew its position in Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 45 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Stock Down 0.5 %

Progressive stock opened at $279.77 on Friday. The firm has a market cap of $164.00 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a fifty-two week low of $194.49 and a fifty-two week high of $287.49. The firm has a fifty day moving average price of $254.23 and a two-hundred day moving average price of $252.70.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Progressive’s payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Barclays boosted their price target on shares of Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. Roth Mkm boosted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $277.59.

Insider Activity at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $279.94, for a total value of $2,799,400.00. Following the sale, the chief financial officer now owns 269,566 shares of the company’s stock, valued at $75,462,306.04. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,361 shares of company stock valued at $14,102,075 over the last quarter. 0.34% of the stock is 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.