The Progressive Co. (NYSE:PGR) Shares Bought by Glenview Trust co

Glenview Trust co lifted its position in shares of The Progressive Co. (NYSE:PGR) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,299 shares of the insurance provider’s stock after purchasing an additional 2,980 shares during the period. Glenview Trust co’s holdings in Progressive were worth $2,947,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PGR. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares during the last quarter. LRI Investments LLC increased its position in Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares during the period. SYM FINANCIAL Corp raised its stake in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 44 shares during the last quarter. Monument Capital Management lifted 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 acquiring an additional 44 shares during the period. Finally, Kelleher Financial Advisors grew its stake in shares of Progressive by 4.7% in the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 45 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PGR. Bank of America decreased their price target on Progressive from $333.00 to $318.00 and set a “buy” rating for the company in a report on Monday, March 10th. UBS Group raised their target price on Progressive from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods cut their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Roth Mkm raised their price objective on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research report on Thursday, December 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $281.76.

Insider Transactions at Progressive

In other news, CIO Jonathan S. Bauer sold 1,227 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $281.00, for a total value of $344,787.00. Following the transaction, the executive now owns 28,393 shares of the company’s stock, valued at approximately $7,978,433. This trade represents a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $115,255,231.44. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,257 shares of company stock worth $15,752,781 in the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive Price Performance

NYSE:PGR opened at $283.87 on Monday. The firm has a market cap of $166.41 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 12-month low of $201.34 and a 12-month high of $287.49. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $258.14 and its two-hundred day moving average is $254.07.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) 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%. Research analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

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

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.