Cambridge Trust Co. Buys 1,615 Shares of The Progressive Co. (NYSE:PGR)

Cambridge Trust Co. lifted its holdings in shares of The Progressive Co. (NYSE:PGR) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 107,862 shares of the insurance provider’s stock after purchasing an additional 1,615 shares during the period. Cambridge Trust Co.’s holdings in Progressive were worth $17,180,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Compass Ion Advisors LLC lifted its stake in shares of Progressive by 0.8% in the fourth quarter. Compass Ion Advisors LLC now owns 7,443 shares of the insurance provider’s stock worth $1,186,000 after buying an additional 59 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Progressive by 10.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 670 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 62 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Progressive by 19.3% during the fourth quarter. Quent Capital LLC now owns 427 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 69 shares during the last quarter. BSW Wealth Partners raised its holdings in shares of Progressive by 4.2% during the fourth quarter. BSW Wealth Partners now owns 1,727 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 69 shares during the last quarter. Finally, Invesco LLC raised its holdings in shares of Progressive by 2.0% during the fourth quarter. Invesco LLC now owns 3,537 shares of the insurance provider’s stock valued at $563,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 0.1 %

PGR stock traded up $0.26 during trading on Thursday, hitting $209.38. The company had a trading volume of 1,273,340 shares, compared to its average volume of 2,586,095. The firm has a market capitalization of $122.63 billion, a P/E ratio of 21.40, a PEG ratio of 0.84 and a beta of 0.35. The Progressive Co. has a 52-week low of $111.41 and a 52-week high of $212.24. The company has a 50 day simple moving average of $198.74 and a 200-day simple moving average of $174.33. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 0.32.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, topping the consensus estimate of $3.20 by $0.74. The company had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. As a group, research analysts forecast that The Progressive Co. will post 11.09 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, April 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Wednesday, April 3rd. Progressive’s dividend payout ratio (DPR) is 4.09%.

Insider Buying and Selling at Progressive

In other Progressive news, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the transaction, the insider now owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the sale, the insider now directly owns 15,189 shares in the company, valued at approximately $2,889,859.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karen Bailo sold 8,464 shares of Progressive stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the sale, the insider now owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PGR. Roth Mkm boosted their price objective on shares of Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group boosted their price objective on shares of Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $240.00 price objective on shares of Progressive in a report on Monday, April 1st. Jefferies Financial Group boosted their price objective on shares of Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a report on Monday. Finally, Bank of America reduced their target price on shares of Progressive from $279.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $211.88.

Progressive 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.