Bank of New Hampshire Has $108,000 Position in The Progressive Co. (NYSE:PGR)

Bank of New Hampshire raised its stake in The Progressive Co. (NYSE:PGR) by 30.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the insurance provider’s stock after acquiring an additional 105 shares during the period. Bank of New Hampshire’s holdings in Progressive were worth $108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Raleigh Capital Management Inc. raised its position in Progressive by 20.9% during the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC increased its stake in shares of Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 42 shares during the last quarter. Castleview Partners LLC raised its holdings in shares of Progressive by 2.7% during the 3rd quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock worth $434,000 after buying an additional 45 shares in the last quarter. Washington Trust Bank lifted its position in shares of Progressive by 4.6% during the 3rd quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock worth $260,000 after buying an additional 45 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Progressive by 21.3% in the second quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after buying an additional 46 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Progressive Trading Up 1.1 %

NYSE PGR opened at $242.13 on Wednesday. The stock has a market capitalization of $141.84 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.70 and a beta of 0.41. The business has a 50 day simple moving average of $251.46 and a 200 day simple moving average of $240.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a one year low of $162.35 and a one year high of $270.62.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping the consensus estimate of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Research analysts expect that The Progressive Co. will post 13.2 earnings per share for the current year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s dividend payout ratio is currently 2.91%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PGR. Jefferies Financial Group increased their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America boosted their target price on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. BMO Capital Markets lowered their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group increased their target price on Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and an average price target of $275.00.

Insider Transactions at Progressive

In related news, insider Steven Broz sold 2,981 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.95. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Susan Patricia Griffith sold 9,066 shares of the business’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 $2,194,878.60. Following the sale, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $114,691,485.60. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,919 shares of company stock valued at $8,222,168 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

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.