The Progressive Co. (NYSE:PGR) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. reduced its position in shares of The Progressive Co. (NYSE:PGR) by 18.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 526 shares of the insurance provider’s stock after selling 117 shares during the quarter. Oakworth Capital Inc.’s holdings in Progressive were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PGR. Davis Capital Management acquired a new stake in shares of Progressive during the 3rd quarter valued at approximately $25,000. WR Wealth Planners LLC increased its position in Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after buying an additional 67 shares during the period. Indiana Trust & Investment Management CO bought a new stake in Progressive in the first quarter valued at $32,000. Hilltop National Bank boosted its holdings in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 92 shares during the period. Finally, Register Financial Advisors LLC acquired a new position in shares of Progressive during the first quarter valued at $35,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the sale, the insider now owns 29,334 shares in the company, valued at $7,626,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the sale, the director now owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,862 shares of company stock worth $17,926,234 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Progressive Stock Down 1.0 %

NYSE PGR opened at $248.25 on Wednesday. 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 company’s 50 day simple moving average is $249.88 and its 200 day simple moving average is $224.79. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The company has a market capitalization of $145.39 billion, a P/E ratio of 18.04, a PEG ratio of 0.69 and a beta of 0.35.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Progressive’s payout ratio is currently 2.91%.

Analysts Set New Price Targets

PGR has been the topic of several recent research reports. Roth Mkm lifted their price objective on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. The Goldman Sachs Group boosted their target price on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. BMO Capital Markets reduced their target price on shares of Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Evercore ISI boosted their target price on shares of Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Barclays assumed coverage on shares of Progressive in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $367.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $268.81.

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.