Brown Miller Wealth Management LLC Buys Shares of 2,343 The Progressive Co. (NYSE:PGR)

Brown Miller Wealth Management LLC bought a new stake in shares of The Progressive Co. (NYSE:PGR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 2,343 shares of the insurance provider's stock, valued at approximately $663,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Progressive by 3.4% during the 4th quarter. Van ECK Associates Corp now owns 16,199 shares of the insurance provider's stock valued at $3,881,000 after acquiring an additional 527 shares during the last quarter. Allstate Corp acquired a new position in shares of Progressive in the 4th quarter valued at $4,205,000. Baird Financial Group Inc. grew its holdings in shares of Progressive by 3.1% in the 4th quarter. Baird Financial Group Inc. now owns 3,667,903 shares of the insurance provider's stock valued at $878,866,000 after buying an additional 111,659 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Progressive in the 1st quarter valued at $3,141,000. Finally, Jump Financial LLC grew its holdings in shares of Progressive by 16.8% in the 4th quarter. Jump Financial LLC now owns 86,076 shares of the insurance provider's stock valued at $20,625,000 after buying an additional 12,351 shares during the period. Institutional investors own 85.34% of the company's stock.

Progressive Trading Down 0.3%

Progressive stock opened at $267.58 on Monday. The firm has a 50-day moving average of $276.07 and a 200-day moving average of $264.51. The Progressive Co. has a one year low of $204.62 and a one year high of $292.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The company has a market cap of $156.86 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.70 and a beta of 0.40.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The company had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. On average, equities analysts expect that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PGR shares. Jefferies Financial Group decreased their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. BMO Capital Markets boosted their price target on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Roth Mkm boosted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price target for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.59.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $275.37, for a total value of $2,753,700.00. Following the sale, the chief financial officer now directly owns 238,024 shares of the company's stock, valued at approximately $65,544,668.88. This represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,267 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $277.81, for a total transaction of $351,985.27. Following the completion of 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. Insiders sold a total of 34,517 shares of company stock worth $9,451,821 in the last three months. Insiders own 0.34% of the company's stock.

Progressive 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.

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