Bank of Jackson Hole Trust Takes $312,000 Position in The Progressive Co. (NYSE:PGR)

Bank of Jackson Hole Trust purchased a new position in The Progressive Co. (NYSE:PGR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,301 shares of the insurance provider's stock, valued at approximately $312,000.

Other hedge funds have also modified their holdings of the company. Creative Planning increased its position in shares of Progressive by 14.9% during the third quarter. Creative Planning now owns 70,443 shares of the insurance provider's stock worth $17,876,000 after acquiring an additional 9,114 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Progressive by 34.8% during the third quarter. Capital Investment Advisors LLC now owns 1,434 shares of the insurance provider's stock valued at $364,000 after purchasing an additional 370 shares during the last quarter. OLD National Bancorp IN grew its position in Progressive by 8.1% during the 3rd quarter. OLD National Bancorp IN now owns 1,620 shares of the insurance provider's stock worth $411,000 after purchasing an additional 122 shares in the last quarter. Vest Financial LLC purchased a new stake in shares of Progressive during the third quarter worth $880,000. Finally, Whittier Trust Co. lifted its stake in Progressive by 1.9% in the third quarter. Whittier Trust Co. now owns 4,343 shares of the insurance provider's stock valued at $1,102,000 after acquiring an additional 81 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the company's stock in a transaction on 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 sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 3,982 shares of the company's stock, valued at $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,361 shares of company stock worth $13,983,575. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on PGR shares. Hsbc Global Res downgraded Progressive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Raymond James raised Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 target price on the stock in a research report on Thursday, December 26th. JPMorgan Chase & Co. upped their price objective on Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a research note on Friday, January 3rd. Evercore ISI boosted their price target on shares of Progressive from $277.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley raised their target price on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Progressive currently has an average rating of "Moderate Buy" and an average price target of $276.12.

Progressive Stock Down 0.6 %

Shares of PGR traded down $1.68 during mid-day trading on Friday, reaching $265.99. The company had a trading volume of 2,567,348 shares, compared to its average volume of 2,505,890. The firm has a 50-day moving average price of $246.61 and a 200 day moving average price of $248.49. The company has a market capitalization of $155.82 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.42. The Progressive Co. has a 52 week low of $186.94 and a 52 week high of $270.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS 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, sell-side analysts forecast that The Progressive Co. will post 14.5 EPS for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive's dividend payout ratio (DPR) is presently 2.78%.

Progressive Company 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.