369 Shares in The Progressive Corporation $PGR Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH purchased a new position in shares of The Progressive Corporation (NYSE:PGR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 369 shares of the insurance provider’s stock, valued at approximately $98,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Highline Wealth Partners LLC grew its holdings in shares of Progressive by 114.0% in the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. TruNorth Capital Management LLC grew its holdings in Progressive by 210.0% in the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 63 shares during the last quarter. HWG Holdings LP bought a new stake in Progressive in the 1st quarter worth $28,000. Garde Capital Inc. bought a new stake in Progressive in the 1st quarter worth $33,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Progressive in the first quarter worth about $35,000. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

PGR has been the topic of several recent analyst reports. Barclays set a $271.00 target price on Progressive in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of Progressive from $265.00 to $266.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Progressive in a report on Wednesday, October 8th. BMO Capital Markets set a $252.00 target price on shares of Progressive in a research note on Thursday, September 18th. Finally, Bank of America lifted their target price on shares of Progressive from $343.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $279.63.

Insider Transactions at Progressive

In other Progressive news, insider Patrick K. Callahan sold 6,420 shares of the business’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the sale, the insider directly owned 15,192 shares of the company’s stock, valued at approximately $3,679,806.24. The trade was a 29.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.10, for a total value of $325,624.50. Following the completion of the sale, the insider directly owned 30,388 shares in the company, valued at $7,356,934.80. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,045 shares of company stock worth $31,997,390. Company insiders own 0.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $240.18 on Monday. The Progressive Corporation has a 12 month low of $228.54 and a 12 month high of $292.99. The stock has a market cap of $140.80 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.32. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $245.20 and its 200-day moving average price is $259.54.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, July 16th. The insurance provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.43 by $0.45. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The business had revenue of $20.08 billion for the quarter, compared to analyst estimates of $20.39 billion. During the same quarter in the previous year, the firm posted $2.48 earnings per share. Progressive’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, October 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, October 2nd. Progressive’s payout ratio is currently 2.25%.

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.