The Progressive Co. (NYSE:PGR) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC trimmed its position in The Progressive Co. (NYSE:PGRFree Report) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,614 shares of the insurance provider’s stock after selling 56 shares during the period. Clearstead Trust LLC’s holdings in Progressive were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. acquired a new stake in Progressive in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new stake in Progressive in the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC boosted its stake in 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 acquiring an additional 41 shares in the last quarter. Valley National Advisers Inc. lifted its stake in shares of Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Progressive during the fourth quarter worth $32,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Up 1.6 %

PGR opened at $283.87 on Friday. The Progressive Co. has a fifty-two week low of $199.57 and a fifty-two week high of $287.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The company has a fifty day moving average of $258.14 and a two-hundred day moving average of $253.97. The stock has a market capitalization of $166.41 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.70 and a beta of 0.35.

Progressive (NYSE:PGRGet Free Report) last released its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 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%. On average, research analysts expect that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.14%. Progressive’s dividend payout ratio is currently 2.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PGR shares. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a research note on Thursday, December 26th. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. 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. Finally, StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $281.76.

Get Our Latest Report on Progressive

Insider Activity at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the completion of the sale, the chief financial officer now owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 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 $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,257 shares of company stock valued at $15,752,781. Corporate insiders own 0.34% of the company’s stock.

Progressive 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.

Further Reading

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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