Heartland Bank & Trust Co Has $711,000 Holdings in The Progressive Corporation $PGR

Heartland Bank & Trust Co lowered its position in shares of The Progressive Corporation (NYSE:PGRFree Report) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,665 shares of the insurance provider’s stock after selling 93 shares during the quarter. Heartland Bank & Trust Co’s holdings in Progressive were worth $711,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PGR. Nuveen LLC acquired a new stake in shares of Progressive during the first quarter valued at approximately $1,473,180,000. GQG Partners LLC grew its position in Progressive by 61.4% during the first quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock valued at $2,362,039,000 after purchasing an additional 3,174,632 shares in the last quarter. C WorldWide Group Holding A S grew its position in Progressive by 12,110.3% during the first quarter. C WorldWide Group Holding A S now owns 1,248,628 shares of the insurance provider’s stock valued at $353,374,000 after purchasing an additional 1,238,402 shares in the last quarter. Alliancebernstein L.P. grew its position in Progressive by 15.2% during the first quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider’s stock valued at $2,338,556,000 after purchasing an additional 1,091,828 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new position in Progressive during the first quarter valued at approximately $194,557,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

PGR stock opened at $236.27 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $138.50 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.33 and a beta of 0.32. The Progressive Corporation has a 12 month low of $228.54 and a 12 month high of $292.99. The firm has a 50 day moving average of $245.09 and a two-hundred day moving average of $259.24.

Progressive (NYSE:PGRGet Free Report) last posted its earnings results on Wednesday, July 16th. The insurance provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.43 by $0.45. The company had revenue of $20.08 billion during the quarter, compared to the consensus estimate of $20.39 billion. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.48 earnings per share. As a group, equities analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, October 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, October 2nd. Progressive’s dividend payout ratio is currently 2.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PGR shares. Citigroup reaffirmed a “buy” rating on shares of Progressive in a research report on Friday, August 29th. BMO Capital Markets set a $252.00 price objective on shares of Progressive in a research report on Thursday, September 18th. Wall Street Zen downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Evercore ISI lowered their price objective on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 1st. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $279.63.

Read Our Latest Analysis on Progressive

Insider Buying and Selling at Progressive

In related news, CEO Susan Patricia Griffith sold 30,659 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the completion of the sale, the chief executive officer directly owned 476,286 shares of the company’s stock, valued at approximately $117,194,933.16. This represents a 6.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the sale, the insider directly owned 15,192 shares of the company’s stock, valued at approximately $3,679,806.24. This represents a 29.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,045 shares of company stock worth $31,997,390 in the last quarter. 0.33% of the stock is owned by corporate insiders.

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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