The Progressive Co. (NYSE:PGR) Shares Bought by Equitable Trust Co.

Equitable Trust Co. grew its position in The Progressive Co. (NYSE:PGR) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 924 shares of the insurance provider’s stock after buying an additional 79 shares during the quarter. Equitable Trust Co.’s holdings in Progressive were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PGR. Brookstone Capital Management increased its position in shares of Progressive by 16.6% in the third quarter. Brookstone Capital Management now owns 1,055 shares of the insurance provider’s stock valued at $268,000 after buying an additional 150 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Progressive by 98.0% in the third quarter. Exchange Traded Concepts LLC now owns 11,510 shares of the insurance provider’s stock valued at $2,921,000 after buying an additional 5,697 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Progressive by 57.1% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 845 shares of the insurance provider’s stock valued at $214,000 after buying an additional 307 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Progressive in the third quarter valued at $124,000. Finally, Sapient Capital LLC purchased a new position in shares of Progressive in the third quarter valued at $1,444,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective for the company. in a research report on Tuesday, December 10th. StockNews.com cut Progressive from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, TD Cowen lifted their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.71.

Progressive Stock Up 3.3 %

PGR opened at $257.82 on Wednesday. The stock has a market capitalization of $151.03 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 0.64 and a beta of 0.42. The Progressive Co. has a 12 month low of $180.72 and a 12 month high of $270.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The business has a 50-day moving average of $244.96 and a two-hundred day moving average of $246.28.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, research analysts expect that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.78%.

Insider Activity

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the transaction, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock valued at $13,983,575 in the last three months. Corporate insiders own 0.34% of the company’s stock.

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.