Whittier Trust Co. of Nevada Inc. Has $471,000 Stake in The Progressive Corporation $PGR

Whittier Trust Co. of Nevada Inc. decreased its stake in The Progressive Corporation (NYSE:PGR) by 87.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,216 shares of the insurance provider’s stock after selling 15,154 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Progressive were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PGR. Brighton Jones LLC raised its position in shares of Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Progressive in the 4th quarter valued at approximately $269,000. Bison Wealth LLC raised its position in shares of Progressive by 3.2% in the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 80 shares during the period. HUB Investment Partners LLC raised its position in shares of Progressive by 7.8% in the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock valued at $609,000 after acquiring an additional 166 shares during the period. Finally, Diversify Wealth Management LLC raised its position in shares of Progressive by 12.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after acquiring an additional 1,622 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $259.00 price target on shares of Progressive in a research report on Monday, March 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Progressive in a research report on Friday, March 27th. Citigroup cut their price target on shares of Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. BMO Capital Markets increased their price target on shares of Progressive from $208.00 to $221.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $225.00 price target on shares of Progressive in a research report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Progressive presently has a consensus rating of “Hold” and an average target price of $238.39.

Insider Activity

In other Progressive news, CIO Jonathan S. Bauer sold 2,266 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total transaction of $460,111.30. Following the sale, the executive directly owned 26,250 shares in the company, valued at approximately $5,330,062.50. This trade represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Karen Bailo sold 3,517 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the sale, the insider owned 32,348 shares in the company, valued at $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,687 shares of company stock worth $2,413,044. Corporate insiders own 0.32% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $202.69 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.35 and a current ratio of 0.33. The company has a market capitalization of $118.57 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 6.70 and a beta of 0.34. The company’s 50 day moving average price is $203.43 and its two-hundred day moving average price is $214.69. The Progressive Corporation has a 52 week low of $192.02 and a 52 week high of $289.96.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.37 EPS. On average, analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, April 2nd. Progressive’s dividend payout ratio (DPR) is 2.03%.

Progressive 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.