Arlington Trust Co LLC Buys 85 Shares of The Progressive Co. (NYSE:PGR)

Arlington Trust Co LLC grew its stake in The Progressive Co. (NYSE:PGR) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,576 shares of the insurance provider’s stock after acquiring an additional 85 shares during the quarter. Arlington Trust Co LLC’s holdings in Progressive were worth $1,576,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Equitable Trust Co. boosted its stake in Progressive by 9.3% in the 4th quarter. Equitable Trust Co. now owns 924 shares of the insurance provider’s stock worth $221,000 after purchasing an additional 79 shares in the last quarter. Eukles Asset Management raised its holdings in Progressive by 0.4% in the fourth quarter. Eukles Asset Management now owns 18,227 shares of the insurance provider’s stock worth $4,367,000 after buying an additional 81 shares during the last quarter. Sycomore Asset Management lifted its stake in shares of Progressive by 42.8% in the fourth quarter. Sycomore Asset Management now owns 51,770 shares of the insurance provider’s stock worth $13,066,000 after buying an additional 15,512 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Progressive during the fourth quarter valued at approximately $89,000. Finally, Savant Capital LLC increased its position in shares of Progressive by 4.4% during the fourth quarter. Savant Capital LLC now owns 17,528 shares of the insurance provider’s stock valued at $4,200,000 after acquiring an additional 738 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PGR. Wells Fargo & Company increased their target price on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price objective on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Bank of America upped their target price on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Barclays cut their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Seven 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.71.

Progressive Stock Down 0.3 %

PGR stock opened at $250.64 on Monday. The business’s 50-day moving average price is $245.24 and its 200-day moving average price is $245.80. The stock has a market cap of $146.83 billion, a P/E ratio of 17.41, a PEG ratio of 0.64 and a beta of 0.42. The Progressive Co. has a twelve month low of $180.72 and a twelve month high of $270.62. 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 issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that The Progressive Co. will post 14.44 EPS for the current year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders 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 0.16%. Progressive’s payout ratio is presently 2.78%.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $2,194,878.60. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,361 shares of company stock valued at $13,983,575 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Progressive Company 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.