First National Trust Co Has $436,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

First National Trust Co decreased its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,738 shares of the insurance provider’s stock after selling 81 shares during the period. First National Trust Co’s holdings in Progressive were worth $436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in Progressive by 3.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 85,155 shares of the insurance provider’s stock worth $11,862,000 after purchasing an additional 2,452 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Progressive by 10.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 68,634 shares of the insurance provider’s stock worth $9,561,000 after buying an additional 6,386 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Progressive by 4.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 128,982 shares of the insurance provider’s stock valued at $17,967,000 after buying an additional 5,164 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Progressive in the 3rd quarter worth $75,000. Finally, Chicago Capital LLC lifted its position in Progressive by 1.1% during the 3rd quarter. Chicago Capital LLC now owns 486,920 shares of the insurance provider’s stock worth $67,828,000 after acquiring an additional 5,147 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PGR shares. Roth Mkm lifted their price objective on Progressive from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Jefferies Financial Group increased their price objective on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Bank of America dropped their target price on shares of Progressive from $279.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group upped their target price on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. Finally, TD Cowen began coverage on shares of Progressive in a research note on Wednesday, January 10th. They set a “market perform” rating and a $174.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $211.88.

Insiders Place Their Bets

In related news, insider Karen Bailo sold 8,464 shares of Progressive stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total value of $1,603,843.36. Following the completion of the sale, the insider now directly owns 32,342 shares in the company, valued at $6,128,485.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Progressive news, insider Karen Bailo sold 8,464 shares of Progressive stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the sale, the insider now owns 32,342 shares of the company’s stock, valued at approximately $6,128,485.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick K. Callahan sold 29,675 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the transaction, the insider now directly owns 15,189 shares in the company, valued at approximately $2,889,859.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,139 shares of company stock valued at $7,458,139. 0.34% of the stock is currently owned by corporate insiders.

Progressive Price Performance

Shares of NYSE:PGR traded down $0.31 during midday trading on Friday, reaching $208.72. The company’s stock had a trading volume of 2,150,779 shares, compared to its average volume of 2,992,636. The business’s fifty day simple moving average is $204.30 and its 200-day simple moving average is $179.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.31. The Progressive Co. has a fifty-two week low of $111.41 and a fifty-two week high of $216.21. The company has a market capitalization of $122.25 billion, a P/E ratio of 21.36, a P/E/G ratio of 0.82 and a beta of 0.34.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.74. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same quarter last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts expect that The Progressive Co. will post 11.34 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date was Wednesday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

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.