First Western Trust Bank Has $1.68 Million Position in The Progressive Corporation $PGR

First Western Trust Bank lessened its stake in The Progressive Corporation (NYSE:PGR) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,291 shares of the insurance provider’s stock after selling 438 shares during the quarter. First Western Trust Bank’s holdings in Progressive were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

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

Progressive Stock Up 0.9%

Shares of NYSE:PGR opened at $221.81 on Thursday. The company has a 50 day moving average price of $231.91 and a two-hundred day moving average price of $251.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The company has a market capitalization of $130.07 billion, a PE ratio of 12.17, a PEG ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a 52 week low of $199.90 and a 52 week high of $292.99.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.04 by ($0.59). Progressive had a net margin of 12.57% and a return on equity of 33.88%. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.64 billion. During the same period last year, the firm earned $3.58 EPS. Analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

Insiders Place Their Bets

In other Progressive news, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $250.78, for a total value of $556,230.04. Following the completion of the transaction, the insider directly owned 45,724 shares of the company’s stock, valued at approximately $11,466,664.72. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $220.00, for a total value of $295,900.00. Following the sale, the insider directly owned 29,043 shares in the company, valued at approximately $6,389,460. This represents a 4.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 51,782 shares of company stock valued at $12,708,788. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PGR shares. Keefe, Bruyette & Woods dropped their price objective on Progressive from $262.00 to $246.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Bank of America boosted their price target on shares of Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. UBS Group cut their price objective on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Wolfe Research started coverage on shares of Progressive in a report on Monday, September 15th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $269.90.

About Progressive

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.