Peoples Bank OH Purchases Shares of 1,180 The Progressive Co. (NYSE:PGR)

Peoples Bank OH purchased a new stake in shares of The Progressive Co. (NYSE:PGR) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,180 shares of the insurance provider’s stock, valued at approximately $244,000.

Other hedge funds have also bought and sold shares of the company. Sachetta LLC purchased a new position in shares of Progressive in the fourth quarter valued at about $25,000. Northwest Bank & Trust Co purchased a new position in shares of Progressive in the fourth quarter valued at about $25,000. Valley National Advisers Inc. lifted its position in shares of Progressive by 143.6% in the fourth quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 112 shares in the last quarter. Indiana Trust & Investment Management CO purchased a new position in shares of Progressive in the first quarter valued at about $32,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Progressive in the first quarter valued at about $35,000. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of several research analyst reports. Jefferies Financial Group boosted their price objective on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Roth Mkm reissued a “buy” rating and set a $235.00 price target on shares of Progressive in a research note on Wednesday, June 26th. BMO Capital Markets reissued an “outperform” rating and set a $235.00 price target on shares of Progressive in a research note on Monday, June 17th. Piper Sandler reissued an “overweight” rating and set a $240.00 price target on shares of Progressive in a research note on Monday, April 1st. Finally, Wells Fargo & Company increased their price target on Progressive from $243.00 to $254.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $216.81.

Insider Transactions at Progressive

In other news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the sale, the director now directly owns 7,176 shares in the company, valued at $1,494,976.08. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Progressive news, CAO Mariann Wojtkun Marshall sold 650 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $208.11, for a total transaction of $135,271.50. Following the transaction, the chief accounting officer now directly owns 3,981 shares in the company, valued at approximately $828,485.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Devin C. Johnson sold 1,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the transaction, the director now owns 7,176 shares in the company, valued at $1,494,976.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,518 shares of company stock worth $7,159,674. 0.34% of the stock is currently owned by company insiders.

Progressive Trading Down 0.1 %

Shares of NYSE:PGR traded down $0.28 during trading on Tuesday, hitting $209.43. The company had a trading volume of 2,372,215 shares, compared to its average volume of 2,573,121. The stock has a market cap of $122.66 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 0.81 and a beta of 0.35. The Progressive Co. has a one year low of $111.41 and a one year high of $217.77. The company has a fifty day simple moving average of $209.45 and a two-hundred day simple moving average of $196.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.32 and a quick ratio of 0.32.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The firm had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that The Progressive Co. will post 11.26 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd will be issued a $0.10 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. Progressive’s payout ratio is 4.09%.

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.