First Western Trust Bank Sells 438 Shares of The Progressive Corporation $PGR

First Western Trust Bank trimmed its position in The Progressive Corporation (NYSE:PGR) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,291 shares of the insurance provider’s stock after selling 438 shares during the quarter. First Western Trust Bank’s holdings in Progressive were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of Progressive during the 4th quarter worth about $269,000. Bison Wealth LLC boosted its stake in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 80 shares during the period. MQS Management LLC acquired a new stake in Progressive in the 1st quarter valued at approximately $232,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Progressive by 10.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 15,761 shares of the insurance provider’s stock valued at $4,460,000 after buying an additional 1,439 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on PGR. Wall Street Zen lowered Progressive from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Evercore ISI cut their target price on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Bank of America raised their price target on shares of Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Wolfe Research assumed coverage on shares of Progressive in a report on Monday, September 15th. They set a “peer perform” rating on the stock. Finally, Raymond James Financial reduced their target price on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $269.90.

Progressive Stock Performance

NYSE:PGR opened at $221.81 on Thursday. The firm has a market capitalization of $130.07 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The Progressive Corporation has a 12-month low of $199.90 and a 12-month high of $292.99. The firm has a 50-day moving average price of $231.91 and a 200 day moving average price of $251.09.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate of $5.04 by ($0.59). Progressive had a net margin of 12.57% and a return on equity of 33.88%. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. During the same quarter in the prior year, the company posted $3.58 earnings per share. Research analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Progressive news, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the completion of the transaction, the chief executive officer directly owned 476,286 shares in the company, valued at $117,194,933.16. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the sale, the insider owned 43,506 shares in the company, valued at $10,532,802.60. This represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 51,782 shares of company stock valued at $12,708,788. 0.33% of the stock is currently owned by insiders.

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.