Financial Counselors Inc. Has $12.20 Million Holdings in The Progressive Corporation (NYSE:PGR)

Financial Counselors Inc. reduced its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,116 shares of the insurance provider's stock after selling 1,351 shares during the period. Financial Counselors Inc.'s holdings in Progressive were worth $12,202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC increased its stake in Progressive by 114.0% in the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Progressive in the 4th quarter worth about $28,000. HWG Holdings LP purchased a new position in Progressive in the 1st quarter worth about $28,000. Atala Financial Inc purchased a new position in Progressive in the 4th quarter worth about $32,000. Finally, Garde Capital Inc. purchased a new position in Progressive in the 1st quarter worth about $33,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PGR has been the topic of a number of analyst reports. Bank of America raised Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price target on the stock in a research note on Monday, April 28th. Barclays decreased their price objective on Progressive from $297.00 to $287.00 and set an "equal weight" rating for the company in a research report on Monday. Wells Fargo & Company raised their price objective on Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. UBS Group decreased their price objective on Progressive from $291.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Morgan Stanley lowered Progressive from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $330.00 to $290.00 in a research report on Monday. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Progressive currently has a consensus rating of "Moderate Buy" and an average target price of $285.41.

Progressive Stock Down 0.9%

Shares of NYSE PGR traded down $2.35 during trading hours on Thursday, hitting $248.06. The stock had a trading volume of 2,677,104 shares, compared to its average volume of 2,798,567. The company has a market capitalization of $145.42 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.59 and a beta of 0.37. The firm's 50-day moving average price is $272.83 and its two-hundred day moving average price is $265.51. The Progressive Corporation has a 52 week low of $207.50 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 announced its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating the consensus estimate of $4.28 by $0.37. Progressive had a return on equity of 33.50% and a net margin of 11.10%. The business had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. Analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, July 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a yield of 0.15%. Progressive's payout ratio is currently 2.70%.

Insider Activity

In other Progressive news, Director Stuart B. Burgdoerfer sold 3,681 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $260.43, for a total transaction of $958,642.83. Following the completion of the sale, the director owned 12,217 shares of the company's stock, valued at $3,181,673.31. This represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dyke Kahina Van sold 2,490 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $277.67, for a total value of $691,398.30. Following the sale, the director directly owned 12,429 shares of the company's stock, valued at $3,451,160.43. The trade was a 16.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,705 shares of company stock valued at $11,450,948. Insiders own 0.34% of the company's stock.

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.