CHICAGO TRUST Co NA Sells 80 Shares of The Progressive Co. (NYSE:PGR)

CHICAGO TRUST Co NA lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,385 shares of the insurance provider’s stock after selling 80 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Progressive were worth $2,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in Progressive during the third quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. boosted its stake in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Progressive in the 2nd quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Progressive during the 3rd quarter valued at about $49,000. Finally, Friedenthal Financial bought a new stake in Progressive during the 3rd quarter worth approximately $49,000. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,919 shares of company stock worth $8,222,168. Insiders own 0.34% of the company’s stock.

Progressive Price Performance

Shares of PGR stock traded down $1.79 during mid-day trading on Monday, hitting $233.82. 738,174 shares of the stock were exchanged, compared to its average volume of 2,283,051. The Progressive Co. has a 52-week low of $166.92 and a 52-week high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $251.34 and a 200 day moving average of $241.61. The company has a market cap of $136.97 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping 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. Research analysts anticipate that The Progressive Co. will post 13.2 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. Progressive’s payout ratio is 2.91%.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of recent research reports. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. Barclays decreased their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Bank of America upped their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. BMO Capital Markets reduced their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $275.24.

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.