Donaldson Capital Management LLC Has $4.54 Million Stock Position in The Progressive Co. (NYSE:PGR)

Donaldson Capital Management LLC boosted its stake in The Progressive Co. (NYSE:PGR - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,047 shares of the insurance provider's stock after acquiring an additional 1,140 shares during the period. Donaldson Capital Management LLC's holdings in Progressive were worth $4,541,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vivid Wealth Management LLC bought a new position in shares of Progressive during the fourth quarter worth about $2,143,000. Van ECK Associates Corp lifted its holdings in Progressive by 3.4% during the 4th quarter. Van ECK Associates Corp now owns 16,199 shares of the insurance provider's stock worth $3,881,000 after buying an additional 527 shares during the last quarter. Allstate Corp acquired a new position in shares of Progressive in the 4th quarter worth approximately $4,205,000. Baird Financial Group Inc. increased its holdings in shares of Progressive by 3.1% in the 4th quarter. Baird Financial Group Inc. now owns 3,667,903 shares of the insurance provider's stock valued at $878,866,000 after acquiring an additional 111,659 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Progressive by 16.8% in the 4th quarter. Jump Financial LLC now owns 86,076 shares of the insurance provider's stock valued at $20,625,000 after acquiring an additional 12,351 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Steven Broz sold 1,267 shares of the 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 completion of the sale, the insider now directly owns 28,888 shares of the company's stock, valued at $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the transaction, the chief financial officer now directly owns 248,024 shares in the company, valued at $66,616,766.16. The trade was a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $10,367,074 in the last three months. 0.34% of the stock is currently owned by insiders.

Progressive Price Performance

PGR stock traded down $0.84 during trading hours on Friday, hitting $267.58. 3,152,193 shares of the stock traded hands, compared to its average volume of 2,679,632. The stock has a 50-day simple moving average of $275.93 and a 200 day simple moving average of $264.55. The company has a market cap of $156.86 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.70 and a beta of 0.40. The Progressive Co. has a one year low of $202.30 and a one year high of $292.99. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $288.00 price objective on shares of Progressive in a research report on Thursday, April 17th. 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. Jefferies Financial Group decreased their target price on Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, BMO Capital Markets increased their price target on Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.