Diversified Trust Co Sells 6,466 Shares of The Progressive Co. (NYSE:PGR)

Diversified Trust Co trimmed its position in shares of The Progressive Co. (NYSE:PGR) by 25.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,272 shares of the insurance provider’s stock after selling 6,466 shares during the quarter. Diversified Trust Co’s holdings in Progressive were worth $4,618,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Davis Capital Management bought a new position in shares of Progressive in the third quarter valued at $25,000. DiNuzzo Private Wealth Inc. boosted its stake in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Progressive during the 2nd quarter worth approximately $36,000. Sachetta LLC lifted its holdings in shares of Progressive by 34.0% in the second quarter. Sachetta LLC now owns 209 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 53 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Progressive during the third quarter valued at approximately $49,000. 85.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PGR has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. HSBC lowered 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 boosted their target price on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price target on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Progressive presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.00.

Progressive Price Performance

Shares of PGR stock traded up $2.70 during trading hours on Tuesday, reaching $242.29. The stock had a trading volume of 510,807 shares, compared to its average volume of 1,775,926. The stock’s fifty day simple moving average is $251.45 and its 200 day simple moving average is $240.70. The firm has a market capitalization of $141.94 billion, a PE ratio of 17.61, a PEG ratio of 0.70 and a beta of 0.41. The Progressive Co. has a 12 month low of $162.35 and a 12 month high of $270.62. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $18.95 billion. On average, equities research analysts predict that The Progressive Co. will post 13.2 EPS for the current year.

Progressive Dividend Announcement

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

Insider Activity

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the sale, the chief executive officer now owns 473,736 shares in the company, valued at approximately $114,691,485.60. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,919 shares of company stock worth $8,222,168. 0.34% of the stock is currently owned by insiders.

Progressive 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.