Harbor Capital Advisors Inc. Purchases 4,213 Shares of The Progressive Co. (NYSE:PGR)

Harbor Capital Advisors Inc. raised its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 60.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,198 shares of the insurance provider's stock after buying an additional 4,213 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Progressive were worth $3,169,000 as of its most recent SEC filing.

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

Progressive Trading Down 0.3%

PGR traded down $0.84 during trading on Friday, hitting $267.58. The company's stock had a trading volume of 3,152,193 shares, compared to its average volume of 2,679,221. The stock has a market cap of $156.86 billion, a PE ratio of 18.58, a PEG ratio of 1.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The firm's 50 day moving average price is $276.07 and its 200-day moving average price is $264.53. The Progressive Co. has a twelve month low of $204.62 and a twelve month high of $292.99.

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

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $268.59, for a total value of $2,685,900.00. Following the sale, the chief financial officer now directly owns 248,024 shares in the company, valued at approximately $66,616,766.16. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $110,016.00. Following the sale, the director now owns 8,370 shares of the company's stock, valued at approximately $2,302,084.80. This represents a 4.56% decrease in their position. 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 quarter. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PGR has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $288.00 price objective on shares of Progressive in a report on Thursday, April 17th. Barclays lifted their price objective on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. raised their price objective on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. 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 report on Monday, April 28th. Finally, Morgan Stanley set a $330.00 target price on Progressive and gave the company an "overweight" rating in a research note on Monday, May 19th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $288.59.

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.