Capital Investment Advisors LLC Has $1.38 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Capital Investment Advisors LLC lifted its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 213.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,863 shares of the insurance provider's stock after purchasing an additional 3,311 shares during the quarter. Capital Investment Advisors LLC's holdings in Progressive were worth $1,376,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after buying an additional 41 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in shares of Progressive during the fourth quarter worth approximately $28,000. Atala Financial Inc purchased a new stake in shares of Progressive during the fourth quarter worth approximately $32,000. Global Wealth Strategies & Associates increased its stake 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 worth $39,000 after buying an additional 75 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in Progressive in the fourth quarter valued at approximately $43,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PGR shares. Wells Fargo & Company increased their price target on shares of Progressive from $324.00 to $328.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Jefferies Financial Group decreased their price target on Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Morgan Stanley set a $330.00 target price on Progressive and gave the company an "overweight" rating in a report on Monday, May 19th. Barclays raised their price target on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Finally, UBS Group lifted their price objective on Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $288.59.

Insider Transactions at Progressive

In other news, CAO Carl G. Joyce sold 360 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $276.17, for a total transaction of $99,421.20. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, March 28th. The shares were sold at an average price of $275.94, for a total value of $2,759,400.00. Following the transaction, the chief financial officer now owns 258,024 shares in the company, valued at $71,199,142.56. This represents a 3.73% decrease in their position. 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 Stock Down 0.3%

Progressive stock traded down $0.84 during midday trading on Friday, hitting $267.58. 3,152,193 shares of the company were exchanged, compared to its average volume of 2,680,269. 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 Progressive Co. has a fifty-two week low of $203.39 and a fifty-two week high of $292.99. The company's fifty day moving average price is $275.93 and its 200-day moving average price is $264.55. The company has a market cap of $156.86 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

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

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.