CENTRAL TRUST Co Purchases 753 Shares of The Progressive Corporation $PGR

CENTRAL TRUST Co grew its holdings in shares of The Progressive Corporation (NYSE:PGR) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,108 shares of the insurance provider’s stock after buying an additional 753 shares during the period. CENTRAL TRUST Co’s holdings in Progressive were worth $3,498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new stake in shares of Progressive in the 2nd quarter worth approximately $33,000. Westside Investment Management Inc. increased its holdings in shares of Progressive by 900.0% during the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 117 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Progressive in the 1st quarter worth about $35,000. Activest Wealth Management grew its position in Progressive by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 127 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its holdings in Progressive by 1,885.7% in the second quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after buying an additional 132 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Price Performance

Shares of NYSE:PGR opened at $219.73 on Wednesday. The firm’s 50 day moving average price is $232.41 and its 200-day moving average price is $251.30. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $128.85 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a twelve month low of $199.90 and a twelve month high of $292.99.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate of $5.04 by ($0.59). The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same quarter in the previous year, the business posted $3.58 earnings per share. Equities research analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Insider Buying and Selling

In other news, CEO Susan Patricia Griffith sold 30,659 shares of Progressive stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the transaction, the chief executive officer directly owned 476,286 shares of the company’s stock, valued at $117,194,933.16. The trade was a 6.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Jo Murphy sold 2,218 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $250.78, for a total transaction of $556,230.04. Following the completion of the sale, the insider directly owned 45,724 shares of the company’s stock, valued at $11,466,664.72. This represents a 4.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,500 shares of company stock worth $14,430,089 in the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PGR shares. Zacks Research cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Bank of America boosted their price target on Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wells Fargo & Company dropped their price objective on Progressive from $266.00 to $246.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Progressive in a research report on Friday, October 31st. Finally, The Goldman Sachs Group lowered their target price on shares of Progressive from $276.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $269.90.

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.