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The Progressive Co. (NYSE:PGR) Shares Purchased by Sanibel Captiva Trust Company Inc.

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Sanibel Captiva Trust Company Inc. grew its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,886 shares of the insurance provider's stock after buying an additional 1,040 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Progressive were worth $6,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider's stock worth $12,795,262,000 after purchasing an additional 583,376 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Progressive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider's stock valued at $3,498,363,000 after buying an additional 189,638 shares in the last quarter. Norges Bank acquired a new stake in shares of Progressive in the fourth quarter valued at approximately $1,843,045,000. Northern Trust Corp boosted its stake in shares of Progressive by 13.0% in the fourth quarter. Northern Trust Corp now owns 6,179,529 shares of the insurance provider's stock valued at $1,480,677,000 after buying an additional 710,684 shares during the period. Finally, Capital Research Global Investors grew its position in Progressive by 34.3% during the fourth quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock worth $1,451,602,000 after buying an additional 1,547,677 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Trading Down 0.3%

Shares of PGR traded down $0.84 during mid-day trading on Friday, hitting $267.58. 3,152,193 shares of the company's stock traded hands, compared to its average volume of 2,680,269. The business's 50-day moving average price is $276.07 and its 200-day moving average price is $264.55. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $156.86 billion, a P/E ratio of 18.58, a PEG ratio of 1.70 and a beta of 0.40. The Progressive Co. has a 1 year low of $203.39 and a 1 year high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.37. The company had revenue of $22.21 billion during 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%. As a group, sell-side analysts forecast that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Insider Transactions at Progressive

In other Progressive news, CAO Carl G. Joyce sold 360 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $276.17, for a total value of $99,421.20. Following the completion of the sale, the chief accounting officer now directly owns 655 shares in the company, valued at $180,891.35. This trade represents a 35.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Devin C. Johnson sold 400 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.04, for a total value of $110,016.00. Following the sale, the director now owns 8,370 shares in the company, valued at $2,302,084.80. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $10,367,074 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Jefferies Financial Group cut their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen downgraded shares of Progressive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Barclays lifted their price target on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets upped their price objective on Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $288.59.

Check Out Our Latest Stock Analysis on PGR

Progressive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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