First National Trust Co Has $4.78 Million Stock Position in The Progressive Co. (NYSE:PGR)

First National Trust Co increased its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 607.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,950 shares of the insurance provider's stock after acquiring an additional 17,132 shares during the period. First National Trust Co's holdings in Progressive were worth $4,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PGR. Webster Bank N. A. acquired a new position in Progressive in the fourth quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive in the 4th quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after acquiring an additional 41 shares during the last quarter. Valley National Advisers Inc. boosted its position in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock worth $29,000 after purchasing an additional 120 shares during the period. Finally, Atala Financial Inc acquired a new stake in Progressive in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 85.34% of the company's stock.

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 value 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. 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, CEO Susan Patricia Griffith sold 9,066 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the transaction, the chief executive officer now directly owns 473,736 shares of the company's stock, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,257 shares of company stock valued at $15,752,781 in the last ninety days. Insiders own 0.34% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PGR shares. JPMorgan Chase & Co. lifted 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. BMO Capital Markets lowered their price objective on shares of Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Wells Fargo & Company upped their target price on shares of Progressive from $313.00 to $317.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. HSBC cut shares of Progressive from a "buy" rating to a "hold" rating and set a $267.00 price target for the company. in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods reduced their price objective on Progressive from $295.00 to $294.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Progressive presently has a consensus rating of "Moderate Buy" and a consensus price target of $281.76.

Progressive Stock Performance

PGR traded up $4.47 during trading on Friday, hitting $283.87. The stock had a trading volume of 2,223,359 shares, compared to its average volume of 2,388,837. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $287.49. The firm has a market capitalization of $166.41 billion, a P/E ratio of 19.71, a PEG ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The company's 50-day moving average price is $258.14 and its 200 day moving average price is $254.03.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued 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 0.14%. Progressive's dividend payout ratio (DPR) is 2.78%.

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.