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

Financial Counselors Inc. lessened its stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Integrated Advisors Network LLC raised its stake in shares of Progressive by 1.0% during the 1st quarter. Integrated Advisors Network LLC now owns 3,808 shares of the insurance provider's stock worth $1,078,000 after purchasing an additional 36 shares in the last quarter. Pines Wealth Management LLC lifted its stake in Progressive by 3.0% in the first 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. grew its position 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 period. Beacon Financial Group increased its stake in shares of Progressive by 1.1% during the 1st quarter. Beacon Financial Group now owns 3,659 shares of the insurance provider's stock worth $1,036,000 after purchasing an additional 39 shares during the last quarter. Finally, Kesler Norman & Wride LLC raised its holdings 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 purchasing an additional 40 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Steven Broz sold 1,267 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 27,621 shares of the company's stock, valued at $7,191,955.98. This represents a 4.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Jo Murphy sold 4,000 shares of Progressive stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.38, for a total value of $1,041,520.00. Following the sale, the insider directly owned 41,289 shares in the company, valued at $10,750,829.82. The trade was a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,705 shares of company stock valued at $11,450,948. Corporate insiders own 0.33% of the company's stock.

Progressive Stock Performance

Shares of NYSE:PGR traded up $0.11 on Wednesday, reaching $251.75. 377,827 shares of the company's stock were exchanged, compared to its average volume of 2,788,793. The company has a market capitalization of $147.58 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.56 and a beta of 0.37. The Progressive Corporation has a twelve month low of $207.50 and a twelve month high of $292.99. 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 company has a fifty day moving average of $273.46 and a 200-day moving average of $265.61.

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. The company had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. On average, research analysts predict that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, July 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, July 3rd. This represents a dividend yield of 0.15%. Progressive's dividend payout ratio (DPR) is currently 2.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen raised Progressive from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. UBS Group boosted their target price on Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $288.00 price target on shares of Progressive in a report on Thursday, April 17th. Barclays decreased their price objective on shares of Progressive from $297.00 to $287.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price for the company in a research note on Monday, April 28th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.94.

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.