Trust Co. of Vermont Purchases 52 Shares of The Progressive Co. (NYSE:PGR)

Trust Co. of Vermont boosted its holdings in shares of The Progressive Co. (NYSE:PGR) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,432 shares of the insurance provider’s stock after acquiring an additional 52 shares during the quarter. Trust Co. of Vermont’s holdings in Progressive were worth $583,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Davis Capital Management bought a new position in shares of Progressive during the 3rd quarter valued at $25,000. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Progressive in the second quarter worth about $36,000. Friedenthal Financial bought a new stake in shares of Progressive during the 3rd quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Progressive during the 3rd quarter valued at about $49,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the sale, the insider now directly owns 26,353 shares in the company, valued at approximately $6,618,555.95. This represents a 10.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,919 shares of company stock worth $8,222,168. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PGR. Evercore ISI upped their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. BMO Capital Markets lowered their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Jefferies Financial Group raised their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods cut their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average price target of $275.24.

Progressive Stock Down 0.7 %

Shares of PGR stock opened at $243.79 on Friday. The Progressive Co. has a one year low of $166.92 and a one year high of $270.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a fifty day moving average price of $250.18 and a 200 day moving average price of $242.27. The stock has a market cap of $142.82 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Progressive 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.