3 days Ago By ABMN Staff
Zions Bancorporation N.A. lessened its stake in shares of The Progressive Co.
( NYSE:PGR – Free Report ) by 25.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 305 shares of the insurance provider’s stock after selling 104 shares during the quarter.
Zions Bancorporation N.A.’s holdings in Progressive were worth $63,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc.
boosted its holdings in Progressive by 11.8% in the second quarter. Whittier Trust Co.
of Nevada Inc. now owns 455 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 48 shares during the last quarter. Farmers & Merchants Investments Inc.
boosted its stake in shares of Progressive by 10.4% in the 2nd quarter. Farmers & Merchants Investments Inc.
now owns 509 shares of the insurance provider’s stock worth $106,000 after buying an additional 48 shares during the last quarter. Graypoint LLC grew its holdings in shares of Progressive by 1.2% in the second quarter.
Graypoint LLC now owns 4,202 shares of the insurance provider’s stock worth $873,000 after acquiring an additional 49 shares during the period. City State Bank increased its position in Progressive by 8.2% during the second quarter.
City State Bank now owns 661 shares of the insurance provider’s stock valued at $137,000 after acquiring an additional 50 shares during the last quarter. Finally, GYL Financial Synergies LLC lifted its holdings in Progressive by 4.0% in the second quarter.
GYL Financial Synergies LLC now owns 1,302 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Progressive Price Performance Shares of NYSE:PGR opened at $255.46 on Monday. The firm has a market cap of $149.
62 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 0.82 and a beta of 0.
35. The firm has a fifty day moving average price of $229.54 and a 200 day moving average price of $215.
06. The Progressive Co. has a fifty-two week low of $134.
34 and a fifty-two week high of $256.74. The company has a debt-to-equity ratio of 0.
30, a quick ratio of 0.31 and a current ratio of 0.31.
Progressive Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, October 3rd will be issued a $0.10 dividend.
This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%.
The ex-dividend date is Thursday, October 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.
Wall Street Analyst Weigh In PGR has been the subject of a number of recent research reports. Morgan Stanley cut their price target on Progressive from $256.00 to $255.
00 and set an “overweight” rating for the company in a research note on Monday, June 10th. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a research report on Monday, August 12th.
Citigroup cut their price objective on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th.
Jefferies Financial Group raised their target price on Progressive from $256.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.
Finally, Evercore ISI boosted their price target on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th.
Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.
29. Check Out Our Latest Stock Analysis on PGR Insider Buying and Selling In other Progressive news, insider Andrew J. Quigg sold 3,975 shares of Progressive stock in a transaction on Monday, July 22nd.
The shares were sold at an average price of $214.01, for a total value of $850,689.75.
Following the completion of the transaction, the insider now directly owns 32,780 shares of the company’s stock, valued at approximately $7,015,247.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link .
In related news, insider Andrew J. Quigg sold 3,975 shares of Progressive stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $214.
01, for a total value of $850,689.75. Following the completion of the transaction, the insider now owns 32,780 shares in the company, valued at $7,015,247.
80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink . Also, CEO Susan Patricia Griffith sold 43,371 shares of the business’s stock in a transaction that occurred on Monday, July 22nd.
The stock was sold at an average price of $214.01, for a total value of $9,281,827.71.
Following the sale, the chief executive officer now directly owns 517,105 shares in the company, valued at $110,665,641.05. The disclosure for this sale can be found here .
Over the last 90 days, insiders have sold 146,704 shares of company stock worth $33,367,408. Insiders own 0.34% of the company’s stock.
About Progressive ( Free Report ) 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. Recommended Stories Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for The Progressive Co. ( NYSE:PGR – Free Report ). Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.
com's FREE daily email newsletter ..
