UMB Bank n.a. Has $103.51 Million Holdings in The Progressive Co. (NYSE:PGR)

UMB Bank n.a. increased its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 432,005 shares of the insurance provider’s stock after purchasing an additional 88 shares during the quarter. Progressive makes up about 1.6% of UMB Bank n.a.’s investment portfolio, making the stock its 13th biggest holding. UMB Bank n.a. owned 0.07% of Progressive worth $103,513,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. increased its position in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Progressive during the second quarter worth $36,000. Friedenthal Financial acquired a new position in shares of Progressive in the third quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progressive in the 3rd quarter worth about $49,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the sale, the chief financial officer now owns 292,958 shares in the company, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,938 shares of company stock valued at $7,473,490 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of analyst reports. Bank of America increased their price target on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Evercore ISI increased their price objective on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research report on Thursday, December 26th. HSBC downgraded shares of 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. Finally, Barclays reduced their target price on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and an average price target of $275.24.

Progressive Stock Performance

PGR stock opened at $243.79 on Monday. The stock has a market capitalization of $142.82 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The stock’s 50 day simple moving average is $250.18 and its 200 day simple moving average is $242.49. The Progressive Co. has a 12-month low of $166.92 and a 12-month high of $270.62. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s payout ratio is 2.91%.

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.