The Progressive Co. (NYSE:PGR) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. lowered its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 23,543 shares of the insurance provider's stock after selling 4,510 shares during the quarter. Progressive comprises about 1.1% of Central Bank & Trust Co.'s portfolio, making the stock its 29th largest position. Central Bank & Trust Co.'s holdings in Progressive were worth $6,663,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new stake in Progressive in the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after buying an additional 41 shares during the last quarter. Atala Financial Inc acquired a new position in shares of Progressive in the 4th quarter valued at about $32,000. Global Wealth Strategies & Associates boosted its stake in shares of Progressive by 119.0% in the first quarter. Global Wealth Strategies & Associates now owns 138 shares of the insurance provider's stock worth $39,000 after buying an additional 75 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in Progressive during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Transactions at Progressive

In other news, CAO Carl G. Joyce sold 360 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total transaction of $99,421.20. Following the transaction, the chief accounting officer now owns 655 shares of the company's stock, valued at approximately $180,891.35. The trade was a 35.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the sale, the chief financial officer now owns 248,024 shares of the company's stock, valued at approximately $66,616,766.16. The trade was a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $10,367,074 in the last ninety days. Insiders own 0.34% of the company's stock.

Progressive Price Performance

NYSE PGR traded down $2.55 during mid-day trading on Wednesday, hitting $262.94. The stock had a trading volume of 3,000,449 shares, compared to its average volume of 2,675,854. The firm's 50 day moving average is $275.55 and its 200 day moving average is $264.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The stock has a market capitalization of $154.14 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.70 and a beta of 0.40. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.37. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities research analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PGR has been the subject of a number of analyst reports. Wall Street Zen downgraded Progressive from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barclays boosted their target price on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. UBS Group increased their price target on shares of Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective for the company in a report on Monday, April 28th. Finally, BMO Capital Markets upped their price objective on shares of Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Progressive has a consensus rating of "Moderate Buy" and an average price target of $288.59.

Progressive Company 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.