HM Payson & Co. Sells 106 Shares of The Progressive Co. (NYSE:PGR)

HM Payson & Co. trimmed its holdings in The Progressive Co. (NYSE:PGR) by 9.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,034 shares of the insurance provider’s stock after selling 106 shares during the quarter. HM Payson & Co.’s holdings in Progressive were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PGR. Raymond James Financial Inc. bought a new position in shares of Progressive during the fourth quarter worth $408,416,000. Geode Capital Management LLC lifted its stake in Progressive by 13.2% in the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after purchasing an additional 1,682,213 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Progressive by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after purchasing an additional 842,109 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Progressive by 75.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock valued at $379,139,000 after purchasing an additional 641,943 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Progressive by 36,819.8% in the fourth quarter. Proficio Capital Partners LLC now owns 568,195 shares of the insurance provider’s stock worth $136,145,000 after purchasing an additional 566,656 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of research reports. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research report on Tuesday, December 10th. BMO Capital Markets dropped their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus price target of $277.59.

Progressive Stock Down 0.5 %

Shares of NYSE PGR opened at $279.77 on Monday. The Progressive Co. has a 52-week low of $194.49 and a 52-week high of $287.49. The firm has a market capitalization of $164.00 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.70 and a beta of 0.35. The stock has a 50 day moving average price of $254.23 and a 200 day moving average price of $252.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Sell-side analysts expect that The Progressive Co. will post 14.68 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $2,681,299.09. Following the completion of the transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $115,255,231.44. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the sale, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock valued at $14,102,075 over the last three months. 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.