Cyndeo Wealth Partners LLC Buys 4,225 Shares of The Progressive Co. (NYSE:PGR)

Cyndeo Wealth Partners LLC boosted its stake in The Progressive Co. (NYSE:PGR - Free Report) by 37.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,373 shares of the insurance provider's stock after purchasing an additional 4,225 shares during the period. Cyndeo Wealth Partners LLC's holdings in Progressive were worth $4,351,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider's stock worth $12,795,262,000 after purchasing an additional 583,376 shares during the period. Geode Capital Management LLC grew its position in Progressive by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider's stock worth $3,498,363,000 after purchasing an additional 189,638 shares during the period. Norges Bank bought a new stake in shares of Progressive during the 4th quarter valued at $1,843,045,000. Northern Trust Corp grew its position in shares of Progressive by 13.0% during the 4th quarter. Northern Trust Corp now owns 6,179,529 shares of the insurance provider's stock valued at $1,480,677,000 after acquiring an additional 710,684 shares during the period. Finally, Capital Research Global Investors grew its position in shares of Progressive by 34.3% during 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 acquiring an additional 1,547,677 shares during the period. Institutional investors own 85.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PGR. Wells Fargo & Company boosted their price objective on shares of Progressive from $324.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of Progressive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. BMO Capital Markets boosted their price objective on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Morgan Stanley set a $330.00 price objective on shares of Progressive and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $288.59.

Progressive Stock Down 0.3%

Shares of PGR stock opened at $267.58 on Monday. The stock has a market cap of $156.86 billion, a P/E ratio of 18.58, a PEG ratio of 1.70 and a beta of 0.40. The Progressive Co. has a 52 week low of $204.62 and a 52 week high of $292.99. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The company's fifty day simple moving average is $276.07 and its two-hundred day simple moving average is $264.51.

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

Insider Transactions at Progressive

In related 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 transaction of $2,753,700.00. Following the transaction, the chief financial officer now directly owns 238,024 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, Director Dyke Kahina Van sold 2,490 shares of the company's stock in a transaction dated 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 now owns 12,429 shares in the company, valued at $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 have 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 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.

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