AA Financial Advisors LLC Makes New $276,000 Investment in The Progressive Corporation (NYSE:PGR)

AA Financial Advisors LLC bought a new stake in The Progressive Corporation (NYSE:PGR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 976 shares of the insurance provider's stock, valued at approximately $276,000.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Progressive during the 4th quarter valued at $1,843,045,000. GAMMA Investing LLC lifted its position in shares of Progressive by 39,285.0% in the first quarter. GAMMA Investing LLC now owns 3,046,037 shares of the insurance provider's stock valued at $862,059,000 after acquiring an additional 3,038,303 shares in the last quarter. GQG Partners LLC lifted its position in shares of Progressive by 67.6% in the fourth quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider's stock valued at $1,239,143,000 after acquiring an additional 2,085,833 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Progressive during the fourth quarter valued at $408,416,000. Finally, Capital Research Global Investors increased its position in Progressive by 34.3% during the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock worth $1,451,602,000 after purchasing an additional 1,547,677 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Transactions at Progressive

In other Progressive news, CAO Carl G. Joyce sold 360 shares of Progressive stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $276.17, for a total transaction of $99,421.20. Following the transaction, the chief accounting officer now directly owns 655 shares of the company's stock, valued at $180,891.35. The trade was a 35.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven Broz sold 1,267 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $277.81, for a total transaction of $351,985.27. Following the sale, the insider now owns 28,888 shares of the company's stock, valued at approximately $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,517 shares of company stock worth $9,451,821. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PGR shares. BMO Capital Markets upped their target price on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective on the stock in a research note on Monday, April 28th. Roth Mkm raised their target price on shares of Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Barclays boosted their price target on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. increased their price target on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Progressive currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.59.

Progressive Trading Down 0.3%

Shares of PGR opened at $265.55 on Wednesday. The Progressive Corporation has a twelve month low of $204.88 and a twelve month high of $292.99. The firm has a market capitalization of $155.67 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.68 and a beta of 0.40. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24. The stock's fifty day simple moving average is $276.09 and its 200 day simple moving average is $264.50.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping the consensus estimate of $4.28 by $0.37. The company had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. On average, equities research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

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.

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Corporation (NYSE:PGR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.