The Progressive Corporation (NYSE:PGR) Stock Position Raised by Lord & Richards Wealth Management LLC

Lord & Richards Wealth Management LLC boosted its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 107.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,429 shares of the insurance provider's stock after buying an additional 2,294 shares during the quarter. Progressive makes up about 1.4% of Lord & Richards Wealth Management LLC's holdings, making the stock its 19th largest position. Lord & Richards Wealth Management LLC's holdings in Progressive were worth $1,253,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC boosted its stake in Progressive by 114.0% in the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 49 shares in the last quarter. TruNorth Capital Management LLC boosted its stake in Progressive by 210.0% in the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 63 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Progressive during the first quarter worth about $28,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive during the fourth quarter worth about $28,000. Finally, Garde Capital Inc. acquired a new stake in shares of Progressive during the first quarter worth about $33,000. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Buying and Selling

In other Progressive news, Director Stuart B. Burgdoerfer sold 3,681 shares of Progressive stock in a transaction on Friday, June 20th. The shares were sold at an average price of $260.43, for a total value of $958,642.83. Following the transaction, the director owned 12,217 shares in the company, valued at $3,181,673.31. This trade represents a 23.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Broz sold 1,267 shares of Progressive stock in a transaction on Friday, June 20th. The shares were sold at an average price of $260.38, for a total transaction of $329,901.46. Following the transaction, the insider owned 27,621 shares in the company, valued at $7,191,955.98. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,705 shares of company stock worth $11,450,948 over the last 90 days. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PGR shares. Morgan Stanley decreased their target price on shares of Progressive from $290.00 to $280.00 and set an "equal weight" rating for the company in a research note on Monday. Wells Fargo & Company increased their target price on shares of Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Keefe, Bruyette & Woods increased their target price on shares of Progressive from $288.00 to $290.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, UBS Group reduced their price objective on shares of Progressive from $291.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $284.82.

Progressive Price Performance

Shares of PGR traded up $4.87 during mid-day trading on Wednesday, reaching $247.07. 3,275,907 shares of the company's stock were exchanged, compared to its average volume of 2,833,850. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $269.97 and a two-hundred day simple moving average of $265.77. The Progressive Corporation has a 52-week low of $208.13 and a 52-week high of $292.99. The company has a market cap of $144.84 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.56 and a beta of 0.37.

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

Progressive Dividend Announcement

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

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.