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

Heartland Bank & Trust Co lowered its holdings in shares of The Progressive Co. (NYSE:PGR) by 3.4% in the third quarter, HoldingsChannel.com reports. The fund owned 4,507 shares of the insurance provider’s stock after selling 158 shares during the quarter. Progressive comprises about 0.6% of Heartland Bank & Trust Co’s investment portfolio, making the stock its 28th biggest holding. Heartland Bank & Trust Co’s holdings in Progressive were worth $1,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGR. Global Assets Advisory LLC purchased a new position in shares of Progressive during the first quarter valued at approximately $2,301,000. Wealthcare Advisory Partners LLC grew its stake in shares of Progressive by 882.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,967 shares of the insurance provider’s stock valued at $2,889,000 after buying an additional 12,546 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Progressive by 96.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 65,382 shares of the insurance provider’s stock valued at $13,522,000 after acquiring an additional 32,115 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of Progressive by 64.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 3,670 shares of the insurance provider’s stock worth $759,000 after purchasing an additional 1,436 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Progressive during the 1st quarter worth about $323,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

Shares of NYSE:PGR opened at $247.25 on Thursday. The firm has a market capitalization of $144.81 billion, a PE ratio of 17.97, a PEG ratio of 0.69 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $260.46. The business’s 50 day moving average is $250.14 and its 200-day moving average is $224.95.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio is 2.91%.

Insider Buying and Selling at Progressive

In related news, CEO Susan Patricia Griffith sold 43,370 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the completion of the transaction, the chief executive officer now owns 473,735 shares in the company, valued at $119,475,967. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Progressive news, CEO Susan Patricia Griffith sold 43,370 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $252.20, for a total transaction of $10,937,914.00. Following the sale, the chief executive officer now directly owns 473,735 shares of the company’s stock, valued at approximately $119,475,967. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Broz sold 6,122 shares of Progressive stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18. Following the completion of the transaction, the insider now owns 32,316 shares of the company’s stock, valued at $7,600,400.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,843 shares of company stock valued at $18,674,912. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PGR. The Goldman Sachs Group increased their price objective on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America increased their price objective on shares of Progressive from $319.00 to $331.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Citigroup reduced their price target on shares of Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.19.

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.