Glenview Trust co Acquires 2,980 Shares of The Progressive Co. (NYSE:PGR)

Glenview Trust co grew its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,299 shares of the insurance provider's stock after purchasing an additional 2,980 shares during the period. Glenview Trust co's holdings in Progressive were worth $2,947,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Progressive during the fourth quarter worth about $408,416,000. Geode Capital Management LLC grew its holdings 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 worth $3,652,235,000 after acquiring an additional 1,682,213 shares during the period. Jennison Associates LLC grew its holdings in Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider's stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Progressive by 75.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider's stock worth $379,139,000 after acquiring an additional 641,943 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in Progressive by 36,819.8% during the fourth quarter. Proficio Capital Partners LLC now owns 568,195 shares of the insurance provider's stock worth $136,145,000 after acquiring an additional 566,656 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

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Progressive Stock Down 3.6 %

Shares of Progressive stock traded down $10.33 during trading on Wednesday, hitting $272.95. 2,247,109 shares of the stock traded hands, compared to its average volume of 2,396,572. The stock has a market cap of $160.01 billion, a P/E ratio of 18.96, 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 Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99. The company has a fifty day moving average price of $259.99 and a two-hundred day moving average price of $254.57.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities research analysts predict that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The business 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Progressive's payout ratio is 2.78%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PGR. Barclays increased their price target on Progressive from $264.00 to $285.00 and gave the company an "equal weight" rating in a research report on Thursday, March 13th. Bank of America decreased their price target on Progressive from $333.00 to $318.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Morgan Stanley increased their price target on Progressive from $300.00 to $307.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. HSBC lowered 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, 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 report on Thursday, December 26th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $281.76.

Insider Activity at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of the firm'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 value of $46,241.10. Following the transaction, the chief accounting officer now directly owns 3,982 shares of the company's stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $2,681,299.09. Following the completion of the transaction, the chief executive officer now directly owns 473,736 shares in the company, valued at $115,255,231.44. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,495 shares of company stock valued at $16,668,034. Corporate insiders own 0.34% of the company's stock.

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.