Cwm LLC Has $8.34 Million Stock Holdings in The Progressive Corporation (NYSE:PGR)

CWM LLC cut its position in The Progressive Corporation (NYSE:PGR - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,483 shares of the insurance provider's stock after selling 1,404 shares during the quarter. CWM LLC's holdings in Progressive were worth $8,344,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Integrated Advisors Network LLC raised its position in Progressive by 1.0% during the 1st quarter. Integrated Advisors Network LLC now owns 3,808 shares of the insurance provider's stock worth $1,078,000 after buying an additional 36 shares during the last quarter. Pines Wealth Management LLC increased its holdings in Progressive by 3.0% during the 1st quarter. Pines Wealth Management LLC now owns 1,287 shares of the insurance provider's stock valued at $335,000 after acquiring an additional 37 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in Progressive by 2.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,940 shares of the insurance provider's stock valued at $549,000 after acquiring an additional 38 shares in the last quarter. Beacon Financial Group increased its holdings in Progressive by 1.1% during the 1st quarter. Beacon Financial Group now owns 3,659 shares of the insurance provider's stock valued at $1,036,000 after acquiring an additional 39 shares in the last quarter. Finally, Kesler Norman & Wride LLC grew its holdings in Progressive by 1.1% during the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider's stock valued at $885,000 after buying an additional 40 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America reduced their target price on shares of Progressive from $337.00 to $336.00 and set a "buy" rating on the stock in a research report on Thursday. Wall Street Zen raised shares of Progressive from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Wells Fargo & Company increased their price objective on shares of Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Evercore ISI cut shares of Progressive from an "outperform" rating to an "in-line" rating and set a $275.00 target price on the stock. in a research note on Thursday. Finally, Barclays cut their target price on Progressive from $297.00 to $287.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $287.63.

Progressive Stock Down 0.4%

PGR traded down $0.99 on Friday, reaching $246.28. 720,771 shares of the company traded hands, compared to its average volume of 2,832,690. The stock's 50 day moving average price is $268.43 and its 200-day moving average price is $265.68. The Progressive Corporation has a 52-week low of $208.13 and a 52-week high of $292.99. The company has a market cap of $144.37 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.53 and a beta of 0.37. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.34 and a quick ratio of 0.29.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The insurance provider reported $4.88 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $0.45. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The firm had revenue of $20.08 billion for the quarter, compared to the consensus estimate of $20.39 billion. During the same period in the previous year, the firm posted $2.48 earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, July 4th were paid a $0.10 dividend. This represents a yield of 0.15%. The ex-dividend date was Thursday, July 3rd. Progressive's dividend payout ratio (DPR) is presently 2.70%.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $263.79, for a total value of $2,637,900.00. Following the completion of the sale, the chief financial officer directly owned 228,024 shares in the company, valued at approximately $60,150,450.96. The trade was a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,490 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total transaction of $691,398.30. Following the transaction, the director owned 12,429 shares of the company's stock, valued at approximately $3,451,160.43. The trade was a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,705 shares of company stock valued at $11,450,948 in the last three months. 0.34% of the stock is currently owned by company insiders.

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.