Daymark Wealth Partners LLC Sells 1,021 Shares of The Progressive Corporation (NYSE:PGR)

Daymark Wealth Partners LLC lowered its stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,953 shares of the insurance provider's stock after selling 1,021 shares during the quarter. Progressive accounts for about 2.1% of Daymark Wealth Partners LLC's portfolio, making the stock its 8th largest position. Daymark Wealth Partners LLC's holdings in Progressive were worth $48,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Integrated Advisors Network LLC boosted its holdings in shares of Progressive by 1.0% in the first quarter. Integrated Advisors Network LLC now owns 3,808 shares of the insurance provider's stock valued at $1,078,000 after acquiring an additional 36 shares in the last quarter. Pines Wealth Management LLC boosted its holdings in Progressive by 3.0% during the first quarter. Pines Wealth Management LLC now owns 1,287 shares of the insurance provider's stock worth $335,000 after buying an additional 37 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in Progressive by 2.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,940 shares of the insurance provider's stock worth $549,000 after buying an additional 38 shares in the last quarter. Beacon Financial Group boosted its holdings in Progressive by 1.1% during the first quarter. Beacon Financial Group now owns 3,659 shares of the insurance provider's stock worth $1,036,000 after buying an additional 39 shares in the last quarter. Finally, Kesler Norman & Wride LLC boosted its holdings in Progressive by 1.1% during the fourth quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider's stock worth $885,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Progressive Trading Down 0.1%

Shares of Progressive stock opened at $266.04 on Wednesday. The firm's 50 day moving average is $274.89 and its 200 day moving average is $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. The Progressive Corporation has a 1 year low of $204.88 and a 1 year high of $292.99. The firm has a market capitalization of $155.96 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.64 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 (EPS) for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Equities research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PGR has been the subject of several research analyst reports. Roth Mkm upped their price target on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $288.00 price target on shares of Progressive in a research report on Thursday, April 17th. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the company an "overweight" rating in a research report on Monday, May 19th. Wells Fargo & Company upped their price target on shares of Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, Jefferies Financial Group reduced their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $288.88.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 1,267 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $277.81, for a total value of $351,985.27. Following the sale, the insider now directly owns 28,888 shares of the company's stock, valued at approximately $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dyke Kahina Van sold 2,490 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $277.67, for a total transaction of $691,398.30. Following the completion of the sale, the director now directly owns 12,429 shares in the company, 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. In the last 90 days, insiders sold 42,705 shares of company stock worth $11,572,448. 0.33% of the stock is owned by corporate 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.

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