Diversified Trust Co Sells 2,404 Shares of The Progressive Corporation (NYSE:PGR)

Diversified Trust Co lessened its holdings in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 12.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,868 shares of the insurance provider's stock after selling 2,404 shares during the period. Diversified Trust Co's holdings in Progressive were worth $4,774,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock worth $813,000 after purchasing an additional 457 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Progressive in the 4th quarter worth approximately $269,000. Highview Capital Management LLC DE grew its stake in shares of Progressive by 3.2% in the 4th quarter. Highview Capital Management LLC DE now owns 11,040 shares of the insurance provider's stock worth $2,645,000 after buying an additional 339 shares during the last quarter. IFP Advisors Inc increased its position in Progressive by 11.0% during the 4th quarter. IFP Advisors Inc now owns 4,808 shares of the insurance provider's stock valued at $1,152,000 after buying an additional 478 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in Progressive by 0.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 6,688 shares of the insurance provider's stock valued at $1,602,000 after buying an additional 46 shares during the last quarter. Institutional investors own 85.34% of the company's stock.

Progressive Trading Up 0.8%

Shares of NYSE:PGR opened at $261.80 on Friday. The stock's 50-day simple moving average is $274.49 and its two-hundred day simple moving average is $264.65. The stock has a market capitalization of $153.47 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.60 and a beta of 0.40. The Progressive Corporation has a 52-week low of $207.48 and a 52-week high of $292.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $268.59, for a total value of $2,685,900.00. Following the transaction, the chief financial officer now owns 248,024 shares of the company's stock, valued at $66,616,766.16. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Broz sold 1,267 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $277.81, for a total value of $351,985.27. Following the transaction, the insider now owns 28,888 shares of the company's stock, valued at approximately $8,025,375.28. This trade represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,705 shares of company stock worth $8,813,048 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PGR. Bank of America raised Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price on the stock in a research note on Monday, April 28th. Wells Fargo & Company increased their price objective 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. BMO Capital Markets raised their price objective on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $288.00 target price on shares of Progressive in a research note on Thursday, April 17th. Finally, Barclays increased their price target on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $288.88.

About Progressive

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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