Whittier Trust Co. of Nevada Inc. Acquires 176 Shares of The Progressive Co. (NYSE:PGR)

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of The Progressive Co. (NYSE:PGR) by 38.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631 shares of the insurance provider’s stock after purchasing an additional 176 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Progressive were worth $160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Progressive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after buying an additional 285,070 shares during the last quarter. Capital International Investors grew its position in shares of Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares during the last quarter. Legal & General Group Plc increased its stake 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 worth $1,022,507,000 after purchasing an additional 92,212 shares during the period. American Century Companies Inc. lifted its holdings in Progressive by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after purchasing an additional 69,709 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Progressive by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after purchasing an additional 244,541 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares of the company’s stock, valued at $119,475,967. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total value of $10,937,914.00. Following the completion of the transaction, the chief executive officer now directly owns 473,735 shares in the company, valued at approximately $119,475,967. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now directly owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock valued at $18,674,912 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Progressive Price Performance

PGR stock opened at $247.25 on Thursday. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $260.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $144.81 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 0.69 and a beta of 0.35. The company has a 50 day simple moving average of $250.14 and a 200 day simple moving average of $224.95.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were paid 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 was Thursday, October 3rd. Progressive’s payout ratio is 2.91%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a report on Monday, August 12th. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Roth Mkm increased their target price on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Jefferies Financial Group boosted their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets lowered their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and an average target price of $263.19.

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.