Arlington Trust Co LLC Has $31,000 Position in The Progressive Corporation $PGR

Key Points

• Arlington Trust Co LLC reduced its stake in The Progressive Corporation by 97.9%, selling 6,153 shares and leaving it with 134 shares worth about $31,000 at quarter-end.
• Company insiders sold a total of 6,933 shares valued at roughly $1.44 million over the past 90 days—including large sales by Maribel Pumarejo and Karen Bailo—and insiders now own just 0.32% of the stock.
• Progressive reported an EPS beat for the quarter ($4.80 vs. $4.67) but missed revenue estimates, declared a $0.10 quarterly dividend (0.2% yield), and holds a consensus analyst rating of Hold with an average target of $238.39.

Arlington Trust Co LLC lessened its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 97.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 134 shares of the insurance provider's stock after selling 6,153 shares during the quarter. Arlington Trust Co LLC's holdings in Progressive were worth $31,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PGR. Davis Capital Management acquired a new stake in Progressive during the 3rd quarter valued at approximately $25,000. Dagco Inc. acquired a new stake in Progressive during the 4th quarter valued at approximately $28,000. Ameriflex Group Inc. increased its position in Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 65 shares during the period. Bangor Savings Bank increased its position in Progressive by 60.4% during the 4th quarter. Bangor Savings Bank now owns 154 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 58 shares during the period. Finally, Riverview Trust Co increased its position in Progressive by 48.6% during the 4th quarter. Riverview Trust Co now owns 162 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Insiders Place Their Bets

In related news, insider Maribel Pumarejo sold 739 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total value of $150,201.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Karen Bailo sold 3,517 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares in the company, valued at approximately $6,857,776. This represents a 9.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,933 shares of company stock valued at $1,441,564 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Progressive Price Performance

Progressive stock opened at $202.89 on Wednesday. The stock has a market capitalization of $118.68 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 6.66 and a beta of 0.34. The Progressive Corporation has a 52-week low of $192.02 and a 52-week high of $289.96. The stock's 50 day moving average price is $203.24 and its two-hundred day moving average price is $212.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.35 and a current ratio of 0.33.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.37 EPS. On average, equities analysts predict that The Progressive Corporation will post 16.38 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, April 2nd. Progressive's dividend payout ratio is presently 2.03%.

Analyst Upgrades and Downgrades

PGR has been the subject of a number of recent analyst reports. Roth Mkm set a $235.00 target price on shares of Progressive in a research report on Thursday, February 19th. Barclays set a $247.00 target price on shares of Progressive in a research report on Wednesday, March 18th. UBS Group increased their target price on shares of Progressive from $218.00 to $220.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. The Goldman Sachs Group reissued a "buy" rating and set a $225.00 target price on shares of Progressive in a research report on Monday, February 23rd. Finally, Morgan Stanley decreased their target price on shares of Progressive from $205.00 to $190.00 and set an "underweight" rating for the company in a research report on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Progressive currently has a consensus rating of "Hold" and an average target price of $238.39.

Progressive Company 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.

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