Private Trust Co. NA Sells 140 Shares of The Progressive Co. (NYSE:PGR)

Private Trust Co. NA lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,500 shares of the insurance provider’s stock after selling 140 shares during the period. Private Trust Co. NA’s holdings in Progressive were worth $2,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Diversified LLC boosted its stake in Progressive by 13.8% during the third quarter. Diversified LLC now owns 1,323 shares of the insurance provider’s stock worth $336,000 after buying an additional 160 shares in the last quarter. Hancock Whitney Corp raised its stake in shares of Progressive by 0.5% in the 3rd quarter. Hancock Whitney Corp now owns 16,825 shares of the insurance provider’s stock valued at $4,270,000 after buying an additional 84 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Progressive by 638.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,825 shares of the insurance provider’s stock worth $971,000 after acquiring an additional 3,307 shares during the period. Independent Advisor Alliance boosted its position in shares of Progressive by 5.0% during the 3rd quarter. Independent Advisor Alliance now owns 26,051 shares of the insurance provider’s stock valued at $6,611,000 after acquiring an additional 1,252 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in Progressive by 381.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 10,601 shares of the insurance provider’s stock valued at $2,690,000 after acquiring an additional 8,397 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on Progressive from $281.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Barclays upped their target price on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. TD Cowen lifted their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $269.81.

Progressive Trading Down 0.5 %

Progressive stock opened at $264.72 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a 50-day moving average of $253.06 and a 200-day moving average of $231.74. The company has a market cap of $155.08 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 0.74 and a beta of 0.36. The Progressive Co. has a one year low of $149.14 and a one year high of $266.89.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. Progressive had a return on equity of 33.10% and a net margin of 11.27%. The firm had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. On average, equities analysts expect that The Progressive Co. will post 13.17 earnings per share for the current fiscal year.

Insider Activity

In other Progressive news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total value of $775,320.00. Following the transaction, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. The trade was a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, the chief executive officer now owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This represents a 8.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,209 shares of company stock valued at $14,975,979. 0.34% of the stock is owned by company insiders.

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.