Compagnie Lombard Odier SCmA Buys 29,017 Shares of The Progressive Co. (NYSE:PGR)

Compagnie Lombard Odier SCmA grew its position in The Progressive Co. (NYSE:PGR - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 275,336 shares of the insurance provider's stock after purchasing an additional 29,017 shares during the period. Progressive comprises about 1.0% of Compagnie Lombard Odier SCmA's portfolio, making the stock its 28th largest position. Compagnie Lombard Odier SCmA's holdings in Progressive were worth $77,923,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PGR. Norges Bank acquired a new stake in Progressive in the fourth quarter worth $1,843,045,000. GAMMA Investing LLC raised its holdings in shares of Progressive by 39,285.0% during the first quarter. GAMMA Investing LLC now owns 3,046,037 shares of the insurance provider's stock worth $862,059,000 after acquiring an additional 3,038,303 shares during the period. GQG Partners LLC raised its holdings in shares of Progressive by 67.6% during the fourth quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider's stock worth $1,239,143,000 after acquiring an additional 2,085,833 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Progressive during the fourth quarter worth $408,416,000. Finally, Capital Research Global Investors increased its stake in Progressive by 34.3% in the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock valued at $1,451,602,000 after buying an additional 1,547,677 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Price Performance

PGR stock traded down $0.72 during trading on Friday, reaching $267.70. 2,265,866 shares of the company were exchanged, compared to its average volume of 2,679,460. The company has a 50-day moving average of $275.93 and a two-hundred day moving average of $264.55. The company has a market capitalization of $156.93 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.70 and a beta of 0.40. The Progressive Co. has a twelve month low of $202.30 and a twelve month 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.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, equities analysts predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Insider Activity at Progressive

In other Progressive news, insider Steven Broz sold 1,267 shares of the stock in a transaction dated Friday, May 23rd. The stock was 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. This trade represents a 4.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $275.94, for a total value of $2,759,400.00. Following the sale, the chief financial officer now owns 258,024 shares of the company's stock, valued at approximately $71,199,142.56. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $10,367,074 over the last three months. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

PGR has been the topic of several recent research reports. Wall Street Zen lowered shares of Progressive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Roth Mkm boosted their price objective 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. Barclays boosted their price objective on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Morgan Stanley set a $330.00 price objective on shares of Progressive and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $288.00 target price on shares of Progressive in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Progressive presently has an average rating of "Moderate Buy" and an average price target of $288.59.

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.