The Progressive Co. (NYSE:PGR) Stock Holdings Trimmed by Bellecapital International Ltd.

Bellecapital International Ltd. lowered its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 34.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,854 shares of the insurance provider's stock after selling 989 shares during the quarter. Bellecapital International Ltd.'s holdings in Progressive were worth $525,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock worth $813,000 after buying an additional 457 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Progressive during the fourth quarter worth approximately $269,000. Kingsview Wealth Management LLC raised its stake in Progressive by 7.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 2,145 shares of the insurance provider's stock valued at $514,000 after purchasing an additional 144 shares during the last quarter. Savant Capital LLC boosted its stake in Progressive by 4.4% during the 4th quarter. Savant Capital LLC now owns 17,528 shares of the insurance provider's stock worth $4,200,000 after purchasing an additional 738 shares during the last quarter. Finally, Equitable Trust Co. raised its position in shares of Progressive by 9.3% in the fourth quarter. Equitable Trust Co. now owns 924 shares of the insurance provider's stock valued at $221,000 after buying an additional 79 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen cut Progressive from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price on the stock in a research note on Monday, April 28th. UBS Group lifted their price target on Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Wells Fargo & Company increased their target price on shares of Progressive from $324.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Roth Mkm increased their price objective on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Progressive currently has a consensus rating of "Moderate Buy" and an average target price of $288.59.

Progressive Trading Down 0.3%

Shares of NYSE PGR traded down $0.72 during midday trading on Friday, reaching $267.70. 2,265,866 shares of the stock were exchanged, compared to its average volume of 2,679,460. The stock has a 50 day moving average price of $275.93 and a 200-day moving average price of $264.55. The Progressive Co. has a 52-week low of $202.30 and a 52-week high of $292.99. The company has a market capitalization of $156.93 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.70 and a beta of 0.40. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

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. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The company had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. Equities research analysts expect that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Progressive news, CAO Carl G. Joyce sold 360 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $276.17, for a total value of $99,421.20. Following the transaction, the chief accounting officer now owns 655 shares in the company, valued at $180,891.35. The trade was a 35.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Broz sold 1,267 shares of Progressive stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $277.81, for a total value of $351,985.27. Following the sale, the insider now directly owns 28,888 shares in the company, valued at approximately $8,025,375.28. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,755 shares of company stock valued at $10,367,074. Company insiders own 0.34% of the company's stock.

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.