Dynamic Advisor Solutions LLC Has $305,000 Stock Holdings in The Progressive Corporation (NYSE:PGR)

Dynamic Advisor Solutions LLC reduced its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 71.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,079 shares of the insurance provider's stock after selling 2,742 shares during the quarter. Dynamic Advisor Solutions LLC's holdings in Progressive were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC increased its stake in shares of Progressive by 1.0% in the 1st 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 during the last quarter. Pines Wealth Management LLC increased its stake in shares of Progressive by 3.0% in 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 during the last quarter. Contravisory Investment Management Inc. increased its stake in shares of Progressive by 2.0% in 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 during the last quarter. Beacon Financial Group increased its stake in shares of Progressive by 1.1% in 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 during the last quarter. Finally, Kesler Norman & Wride LLC increased its stake in shares of Progressive by 1.1% in the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider's stock valued at $885,000 after acquiring an additional 40 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Devin C. Johnson sold 400 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total value of $110,016.00. Following the sale, the director now directly owns 8,370 shares of the company's stock, valued at $2,302,084.80. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven Broz sold 1,267 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.38, for a total value of $329,901.46. Following the completion of the sale, the insider now directly owns 27,621 shares in the company, valued at $7,191,955.98. This trade represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,105 shares of company stock worth $11,682,464. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PGR. Morgan Stanley set a $330.00 price target on Progressive and gave the company an "overweight" rating in a research note on Monday, May 19th. UBS Group upped their price target on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. upped their price target on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their price target 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 boosted their price objective on Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $288.88.

Progressive Stock Performance

Progressive stock traded up $4.38 during mid-day trading on Monday, hitting $266.39. 3,006,400 shares of the company's stock traded hands, compared to its average volume of 2,712,353. The firm has a 50 day simple moving average of $275.34 and a two-hundred day simple moving average of $264.49. The Progressive Corporation has a fifty-two week low of $204.88 and a fifty-two week high of $292.99. The stock has a market cap of $156.16 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.62 and a beta of 0.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a return on equity of 33.50% and a net margin of 11.10%. The company had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. On average, research analysts expect that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

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.