Sanibel Captiva Trust Company Inc. Purchases 3,637 Shares of The Progressive Co. (NYSE:PGR)

Sanibel Captiva Trust Company Inc. increased its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,846 shares of the insurance provider's stock after acquiring an additional 3,637 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Progressive were worth $5,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Progressive by 1.3% during the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider's stock valued at $6,263,763,000 after purchasing an additional 315,411 shares during the last quarter. Geode Capital Management LLC raised its stake in Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider's stock valued at $3,652,235,000 after buying an additional 1,682,213 shares during the last quarter. FMR LLC boosted its holdings in Progressive by 1.6% in the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider's stock worth $2,669,204,000 after acquiring an additional 170,618 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider's stock worth $1,286,036,000 after acquiring an additional 330,667 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider's stock valued at $1,022,507,000 after acquiring an additional 92,212 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PGR shares. Jefferies Financial Group upped their price target on shares of Progressive from $257.00 to $295.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Bank of America increased their price target on shares of Progressive from $331.00 to $335.00 and gave the company a "buy" rating in a report on Monday, November 18th. BMO Capital Markets decreased their price objective on shares of Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a report on Monday, December 16th. StockNews.com upgraded Progressive from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, Raymond James upgraded Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price target for the company in a research note on Thursday, December 26th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of "Moderate Buy" and an average target price of $275.24.

Insider Buying and Selling at Progressive

In other Progressive news, 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 completion of the sale, the chief accounting officer now directly owns 3,982 shares of the company's stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Broz sold 2,981 shares of the business's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total transaction of $748,678.15. Following the completion of the transaction, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. This trade represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,919 shares of company stock valued at $8,222,168 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Progressive Stock Performance

PGR stock traded down $1.75 during midday trading on Friday, reaching $243.79. 1,967,879 shares of the company's stock traded hands, compared to its average volume of 2,000,825. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average is $250.18 and its 200 day moving average is $242.49. The stock has a market cap of $142.82 billion, a P/E ratio of 17.72, a PEG ratio of 0.61 and a beta of 0.41. The Progressive Co. has a 52-week low of $166.92 and a 52-week high of $270.62.

Progressive Announces Dividend

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

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.