Whittier Trust Co. of Nevada Inc. Buys 13,691 Shares of The Progressive Co. (NYSE:PGR)

Whittier Trust Co. of Nevada Inc. boosted its position in The Progressive Co. (NYSE:PGR) by 2,169.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,322 shares of the insurance provider’s stock after buying an additional 13,691 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Progressive were worth $3,432,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC grew its stake in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the period. LRI Investments LLC grew its position in Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 42 shares during the period. SYM FINANCIAL Corp increased its stake in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after purchasing an additional 44 shares in the last quarter. Monument Capital Management raised its holdings in Progressive by 0.3% during the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after buying an additional 44 shares during the last quarter. Finally, Kelleher Financial Advisors lifted its stake in shares of Progressive by 4.7% in the fourth quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after buying an additional 45 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.6 %

Shares of NYSE PGR opened at $273.08 on Friday. The business’s fifty day moving average price is $261.96 and its 200-day moving average price is $254.99. The Progressive Co. has a one year low of $201.34 and a one year high of $292.99. The stock has a market capitalization of $160.08 billion, a PE ratio of 18.96, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities research analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive’s dividend payout ratio is 2.78%.

Insiders Place Their Bets

In other Progressive news, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CIO Jonathan S. Bauer sold 1,696 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $282.66, for a total transaction of $479,391.36. Following the completion of the sale, the executive now directly owns 26,697 shares in the company, valued at approximately $7,546,174.02. The trade was a 5.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,495 shares of company stock worth $16,668,034 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their price target on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley upped their target price on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.06.

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.