587 Shares in The Progressive Co. (NYSE:PGR) Acquired by Riverview Trust Co

Riverview Trust Co acquired a new position in The Progressive Co. (NYSE:PGR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 587 shares of the insurance provider’s stock, valued at approximately $121,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kestra Advisory Services LLC lifted its stake in shares of Progressive by 16.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,657 shares of the insurance provider’s stock valued at $1,067,000 after purchasing an additional 1,096 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in shares of Progressive by 6.8% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,395 shares of the insurance provider’s stock valued at $334,000 after acquiring an additional 153 shares in the last quarter. Stifel Financial Corp raised its position in shares of Progressive by 1.4% in the 3rd quarter. Stifel Financial Corp now owns 165,477 shares of the insurance provider’s stock worth $23,051,000 after purchasing an additional 2,342 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Progressive by 10.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 670 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 62 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Progressive by 17.5% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,005 shares of the insurance provider’s stock worth $279,000 after buying an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PGR. The Goldman Sachs Group lifted their target price on Progressive from $161.00 to $216.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price on shares of Progressive in a report on Monday, April 1st. Citigroup lifted their target price on Progressive from $230.00 to $232.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. BMO Capital Markets reissued an “outperform” rating and issued a $235.00 target price on shares of Progressive in a report on Monday, June 17th. Finally, UBS Group raised their price target on Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $216.81.

Insider Transactions at Progressive

In other news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the sale, the director now directly owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the sale, the director now directly owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Sauerland sold 12,457 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $204.43, for a total value of $2,546,584.51. Following the sale, the chief financial officer now directly owns 312,958 shares in the company, valued at $63,978,003.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,468 shares of company stock valued at $4,415,753. 0.34% of the stock is currently owned by insiders.

Progressive Price Performance

Shares of Progressive stock opened at $208.28 on Wednesday. The stock’s 50-day simple moving average is $209.62 and its 200-day simple moving average is $192.86. The Progressive Co. has a 52 week low of $111.41 and a 52 week high of $217.77. The company has a market capitalization of $121.99 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 0.81 and a beta of 0.35. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, beating the consensus estimate of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The business had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. As a group, analysts expect that The Progressive Co. will post 11.34 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. Progressive’s dividend payout ratio (DPR) is 4.09%.

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.