The Progressive Co. (NYSE:PGR) Shares Sold by First National Corp MA ADV

First National Corp MA ADV lowered its stake in The Progressive Co. (NYSE:PGR) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,067 shares of the insurance provider’s stock after selling 97 shares during the period. First National Corp MA ADV’s holdings in Progressive were worth $256,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of Progressive by 98.2% in the 4th 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 period. Townsquare Capital LLC raised its holdings in Progressive by 90.9% during the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after purchasing an additional 3,720 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Progressive by 7.0% in 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 valued at $1,286,036,000 after purchasing an additional 330,667 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Progressive by 2,262.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock valued at $103,990,000 after purchasing an additional 415,628 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Progressive by 30.5% during the 4th quarter. Nordea Investment Management AB now owns 1,069,697 shares of the insurance provider’s stock worth $255,882,000 after purchasing an additional 249,958 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

Progressive stock opened at $250.64 on Monday. The firm’s 50-day moving average is $245.24 and its two-hundred day moving average is $245.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The stock has a market capitalization of $146.83 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.64 and a beta of 0.42. The Progressive Co. has a 12-month low of $180.72 and a 12-month high of $270.62.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping 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%. Equities analysts predict that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors 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 annualized dividend and a yield of 0.16%. Progressive’s payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. BMO Capital Markets reduced their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Evercore ISI raised their target price on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Bank of America upped their price target on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley upped their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Insiders Place Their Bets

In related news, insider Lori A. Niederst sold 3,855 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $247.06, for a total transaction of $952,416.30. Following the completion of the transaction, the insider now owns 39,040 shares of the company’s stock, valued at approximately $9,645,222.40. This represents a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,361 shares of company stock valued at $13,983,575. Insiders own 0.34% of the company’s stock.

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.