The Progressive Co. (NYSE:PGR) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its holdings in shares of The Progressive Co. (NYSE:PGR) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,093 shares of the insurance provider’s stock after selling 118 shares during the period. Wesbanco Bank Inc.’s holdings in Progressive were worth $3,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PGR. Geode Capital Management LLC increased its position in Progressive by 13.2% during the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock worth $3,652,235,000 after purchasing an additional 1,682,213 shares during the period. Jennison Associates LLC grew its holdings in shares of Progressive by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Progressive by 75.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after acquiring an additional 641,943 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Progressive by 29,701.6% in the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock worth $151,325,000 after acquiring an additional 594,330 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Progressive by 206.8% in the 3rd quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock worth $222,207,000 after acquiring an additional 590,235 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Down 0.8 %

Shares of NYSE:PGR opened at $239.13 on Thursday. The firm has a fifty day moving average of $249.42 and a two-hundred day moving average of $243.16. The firm has a market capitalization of $140.08 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. The Progressive Co. has a 12-month low of $169.57 and a 12-month high of $270.62. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Insider Buying and Selling at Progressive

In related news, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the sale, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of Progressive stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,938 shares of company stock valued at $7,473,490 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PGR. Bank of America increased their target price on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley reduced their price target on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.65.

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.