Cambridge Investment Research Advisors Inc. Has $19.47 Million Stock Holdings in The Progressive Corporation (NYSE:PGR)

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,787 shares of the insurance provider's stock after acquiring an additional 3,787 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Progressive were worth $19,467,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PGR. Highline Wealth Partners LLC lifted its position in shares of Progressive by 114.0% during the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in Progressive in the 4th quarter valued at $28,000. Atala Financial Inc acquired a new stake in Progressive in the 4th quarter worth $32,000. Garde Capital Inc. bought a new position in shares of Progressive during the 1st quarter worth about $33,000. Finally, Global Wealth Strategies & Associates raised its position in shares of Progressive by 119.0% during the first quarter. Global Wealth Strategies & Associates now owns 138 shares of the insurance provider's stock valued at $39,000 after buying an additional 75 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the completion of the sale, the chief financial officer now owns 248,024 shares of the company's stock, valued at approximately $66,616,766.16. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Jo Murphy sold 4,000 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $1,041,520.00. Following the sale, the insider now owns 41,289 shares of the company's stock, valued at $10,750,829.82. The trade was a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,705 shares of company stock worth $11,572,448. Company insiders own 0.33% of the company's stock.

Progressive Stock Performance

Shares of PGR traded down $0.34 during midday trading on Tuesday, reaching $266.04. The stock had a trading volume of 3,515,310 shares, compared to its average volume of 2,714,808. The Progressive Corporation has a one year low of $204.88 and a one year high of $292.99. The firm has a market cap of $155.96 billion, a PE ratio of 17.94, a P/E/G ratio of 1.64 and a beta of 0.40. The firm has a 50 day simple moving average of $274.89 and a 200-day simple moving average of $264.58. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR - Get Free Report) last released 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. The firm had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a net margin of 11.10% and a return on equity of 33.50%. As a group, sell-side analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PGR. UBS Group lifted their price objective on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price target on shares of Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Roth Mkm boosted their target price on shares of Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Wells Fargo & Company increased their price target on shares of Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a research note on Friday. Finally, BMO Capital Markets boosted their target price on Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Progressive presently has an average rating of "Moderate Buy" and a consensus target price of $288.88.

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.