The Progressive Co. (NYSE:PGR) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. decreased its stake in The Progressive Co. (NYSE:PGR) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,587 shares of the insurance provider’s stock after selling 886 shares during the period. Central Bank & Trust Co.’s holdings in Progressive were worth $7,762,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PGR. Private Advisor Group LLC boosted its holdings in shares of Progressive by 7.4% in the first quarter. Private Advisor Group LLC now owns 10,610 shares of the insurance provider’s stock valued at $2,194,000 after acquiring an additional 727 shares during the period. Jennison Associates LLC purchased a new stake in Progressive during the 1st quarter valued at approximately $25,743,000. Whittier Trust Co. lifted its position in Progressive by 42.1% during the 1st quarter. Whittier Trust Co. now owns 3,889 shares of the insurance provider’s stock worth $804,000 after acquiring an additional 1,153 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Progressive by 3.2% in the 1st quarter. Proficio Capital Partners LLC now owns 2,053 shares of the insurance provider’s stock valued at $425,000 after purchasing an additional 63 shares during the last quarter. Finally, RiverPark Advisors LLC acquired a new position in shares of Progressive in the first quarter valued at approximately $38,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $242.00 to $251.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays lifted their price objective on Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Bank of America raised their price target on Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley raised their target price on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $263.19.

Progressive Stock Down 0.5 %

PGR stock opened at $241.48 on Tuesday. The company has a 50 day moving average price of $250.86 and a two-hundred day moving average price of $227.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $141.43 billion, a P/E ratio of 17.55, a PEG ratio of 0.67 and a beta of 0.36. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46.

Insider Activity

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock valued at $18,674,912 over the last quarter. Company insiders own 0.34% of the company’s stock.

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.