Central Pacific Bank Trust Division Has $2.62 Million Stake in The Progressive Corporation $PGR

Central Pacific Bank Trust Division reduced its position in The Progressive Corporation (NYSE:PGR) by 32.3% during the fourth quarter, HoldingsChannel reports. The firm owned 11,525 shares of the insurance provider’s stock after selling 5,506 shares during the period. Central Pacific Bank Trust Division’s holdings in Progressive were worth $2,624,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Maia Wealth LLC lifted its holdings in Progressive by 5.4% in the second quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock valued at $229,000 after buying an additional 44 shares during the period. Selective Wealth Management Inc. grew its holdings in Progressive by 2.1% during the 3rd quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider’s stock worth $538,000 after acquiring an additional 45 shares during the period. Liberty One Investment Management LLC grew its holdings in Progressive by 3.8% during the 3rd quarter. Liberty One Investment Management LLC now owns 1,291 shares of the insurance provider’s stock worth $319,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC raised its position in shares of Progressive by 20.8% in the 3rd quarter. True Wealth Design LLC now owns 279 shares of the insurance provider’s stock worth $69,000 after acquiring an additional 48 shares in the last quarter. Finally, Wealthstream Advisors Inc. raised its position in shares of Progressive by 4.6% in the 3rd quarter. Wealthstream Advisors Inc. now owns 1,111 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 49 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of NYSE:PGR opened at $205.93 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $120.66 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 8.81 and a beta of 0.33. The stock’s fifty day simple moving average is $206.07 and its two-hundred day simple moving average is $221.16. The Progressive Corporation has a 1-year low of $197.92 and a 1-year high of $289.96.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive’s dividend payout ratio (DPR) is presently 2.08%.

Analysts Set New Price Targets

PGR has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on Progressive from $214.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Research upgraded Progressive from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Mizuho dropped their price target on Progressive from $235.00 to $223.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price target on Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $239.72.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Bank of America kept a “buy” rating and, despite trimming its target slightly to $305, still implies substantial upside — a supporting factor for the stock. Progressive had its price target lowered by Bank of America Corporation from $308.00 to $305.00
• Positive Sentiment: Wells Fargo raised its target to $217 and maintained an “equal weight” view, a modest positive signal that offsets some downgrades. Wells Fargo raised its price target on Progressive
• Neutral Sentiment: Progressive is getting increased attention from retail and news platforms; Zacks flagged PGR as a “trending” stock, which can drive short-term volume and volatility but doesn’t change fundamentals. The Progressive Corporation (PGR) Is a Trending Stock
• Neutral Sentiment: Recent media noted intraday moves in PGR (short-term price swings); useful for traders but not necessarily indicative of a lasting trend. Progressive (PGR) stock moves -1.29%: What you should know
• Negative Sentiment: Mizuho cut its target to $223 and moved to “neutral,” trimming upside expectations and applying downward pressure. Progressive had its price target lowered by Mizuho from $235.00 to $223.00
• Negative Sentiment: Barclays downgraded PGR from “strong-buy” to “hold,” reducing buy-side conviction and potentially limiting near-term gains. Progressive was downgraded by Barclays PLC from “strong-buy” to “hold”
• Negative Sentiment: Keefe, Bruyette & Woods trimmed its target to $227 and set a “market perform” rating, another modest drag on sentiment. Progressive had its price target lowered by Keefe, Bruyette & Woods
• Neutral Sentiment: An unrelated biotech update (Zenas BioPharma) appeared in the feed but has no material bearing on Progressive’s insurance business. Zenas BioPharma Advances Phase 3 Orelabrutinib Trial

Insider Activity at Progressive

In other Progressive news, insider Maribel Pumarejo sold 739 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total value of $150,201.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Jonathan S. Bauer sold 3,105 shares of Progressive stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive directly owned 26,249 shares in the company, valued at approximately $5,363,983.15. This represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,417 shares of company stock valued at $2,357,289 over the last three months. Insiders own 0.34% of the company’s stock.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.