Wesbanco Bank Inc. Has $3.62 Million Stake in The Progressive Co. (NYSE:PGR)

Wesbanco Bank Inc. decreased its stake in shares of The Progressive Co. (NYSE:PGR) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,093 shares of the insurance provider’s stock after selling 118 shares during the quarter. Wesbanco Bank Inc.’s holdings in Progressive were worth $3,616,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its holdings in shares of Progressive by 4.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 80,232 shares of the insurance provider’s stock worth $19,225,000 after purchasing an additional 3,326 shares during the period. GoalVest Advisory LLC bought a new position in shares of Progressive during the 4th quarter worth about $1,225,000. Kelleher Financial Advisors increased its holdings in shares of Progressive by 4.7% during the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 45 shares during the period. Marino Stram & Associates LLC increased its holdings in shares of Progressive by 3.2% during the 4th quarter. Marino Stram & Associates LLC now owns 4,202 shares of the insurance provider’s stock worth $1,007,000 after purchasing an additional 131 shares during the period. Finally, Park Place Capital Corp increased its holdings in shares of Progressive by 23.5% during the 4th quarter. Park Place Capital Corp now owns 5,813 shares of the insurance provider’s stock worth $1,393,000 after purchasing an additional 1,107 shares during the period. Institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PGR shares. Wells Fargo & Company boosted their price objective on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Barclays lowered their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets decreased their price objective 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. Finally, HSBC cut shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $274.65.

Insider Transactions at Progressive

In related news, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the transaction, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,938 shares of company stock valued at $7,473,490 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.8 %

Shares of NYSE:PGR opened at $239.13 on Thursday. The Progressive Co. has a 52 week low of $169.57 and a 52 week high of $270.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $140.08 billion, a PE ratio of 17.38, a PEG ratio of 0.63 and a beta of 0.41. The company has a 50 day moving average price of $249.42 and a two-hundred day moving average price of $243.16.

Progressive Dividend Announcement

The business also recently disclosed 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. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is 2.91%.

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.