CHICAGO TRUST Co NA Decreases Stock Holdings in The Progressive Co. (NYSE:PGR)

CHICAGO TRUST Co NA lowered its stake in shares of The Progressive Co. (NYSE:PGRFree Report) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,385 shares of the insurance provider’s stock after selling 80 shares during the period. CHICAGO TRUST Co NA’s holdings in Progressive were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in Progressive by 98.2% during the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 391 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after buying an additional 3,720 shares during the last quarter. Diversified Trust Co raised its position in shares of Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after buying an additional 11,770 shares during the last quarter. Sycomore Asset Management raised its position in shares of Progressive by 9.5% in the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after buying an additional 2,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Progressive by 7.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after purchasing an additional 330,667 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research analyst reports. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HSBC downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday. BMO Capital Markets decreased their target price 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, TD Cowen upped their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus price target of $275.24.

Read Our Latest Stock Report on Progressive

Insider Activity at Progressive

In related news, 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 transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. This represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares in the company, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,919 shares of company stock worth $8,222,168 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Progressive Stock Down 0.8 %

NYSE PGR traded down $1.79 during trading on Monday, reaching $233.82. The company’s stock had a trading volume of 738,174 shares, compared to its average volume of 2,283,051. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $136.97 billion, a PE ratio of 16.99, a PEG ratio of 0.70 and a beta of 0.41. The business has a 50-day moving average price of $251.34 and a 200-day moving average price of $241.61. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62.

Progressive (NYSE:PGRGet Free Report) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The firm had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. On average, research analysts forecast that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s payout ratio is currently 2.91%.

Progressive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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