CENTRAL TRUST Co Sells 2,708 Shares of The Progressive Corporation $PGR

CENTRAL TRUST Co trimmed its position in shares of The Progressive Corporation (NYSE:PGR) by 20.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,400 shares of the insurance provider’s stock after selling 2,708 shares during the quarter. CENTRAL TRUST Co’s holdings in Progressive were worth $2,568,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Davis Capital Management purchased a new stake in Progressive during the third quarter valued at approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Progressive during the second quarter worth $33,000. Howard Hughes Medical Institute purchased a new stake in shares of Progressive during the 2nd quarter valued at $34,000. Westside Investment Management Inc. lifted its holdings in shares of Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Finally, TruNorth Capital Management LLC boosted its position in shares of Progressive by 450.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 135 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Performance

PGR opened at $204.43 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99. The firm has a 50 day moving average of $214.98 and a two-hundred day moving average of $228.00. The firm has a market capitalization of $119.88 billion, a PE ratio of 10.63, a P/E/G ratio of 7.19 and a beta of 0.32.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.08%.

Insider Buying and Selling

In other news, insider Andrew J. Quigg sold 1,649 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $336,973.15. Following the completion of the transaction, the insider owned 39,626 shares of the company’s stock, valued at $8,097,573.10. The trade was a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John P. Sauerland sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $228.48, for a total value of $1,142,400.00. Following the sale, the chief financial officer directly owned 223,024 shares in the company, valued at approximately $50,956,523.52. This trade represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 12,443 shares of company stock worth $2,723,061. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research cut Progressive from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods cut their price objective on shares of Progressive from $252.00 to $225.00 and set a “market perform” rating on the stock in a report on Friday, January 30th. Citigroup lowered their target price on shares of Progressive from $300.60 to $261.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. UBS Group set a $226.00 target price on shares of Progressive in a research report on Monday, February 2nd. Finally, BMO Capital Markets decreased their price target on shares of Progressive from $239.00 to $232.00 and set a “market perform” rating for the company in a report on Thursday, January 29th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $250.35.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.