OneDigital Investment Advisors LLC Reduces Holdings in The Progressive Corporation (NYSE:PGR)

OneDigital Investment Advisors LLC trimmed its holdings in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 8.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,772 shares of the insurance provider's stock after selling 1,697 shares during the period. OneDigital Investment Advisors LLC's holdings in Progressive were worth $5,030,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PGR. Highline Wealth Partners LLC grew 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 during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive in the 4th quarter worth about $28,000. HWG Holdings LP bought a new position in Progressive in the 1st quarter valued at about $28,000. Atala Financial Inc bought a new stake in Progressive during the 4th quarter worth approximately $32,000. Finally, Garde Capital Inc. bought a new stake in Progressive during the 1st quarter worth approximately $33,000. Institutional investors own 85.34% of the company's stock.

Insider Activity at Progressive

In related news, Director Dyke Kahina Van sold 2,490 shares of the business'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 transaction of $691,398.30. Following the completion of the sale, the director directly owned 12,429 shares in the company, valued at approximately $3,451,160.43. The trade was a 16.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,267 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $277.81, for a total value of $351,985.27. Following the completion of the transaction, the insider directly owned 28,888 shares of the company's stock, valued at approximately $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,705 shares of company stock valued at $11,450,948 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

PGR has been the subject 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 for the company in a research report on Monday, April 28th. Wall Street Zen raised shares of Progressive from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. UBS Group upped their price objective on shares of Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Jefferies Financial Group cut their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company increased their price target on Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $288.88.

Progressive Stock Up 1.0%

Shares of NYSE:PGR traded up $2.50 on Friday, reaching $260.30. The company had a trading volume of 2,685,585 shares, compared to its average volume of 2,775,782. The firm has a market capitalization of $152.59 billion, a PE ratio of 17.55, a PEG ratio of 1.61 and a beta of 0.37. 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 Progressive Corporation has a 52-week low of $207.50 and a 52-week high of $292.99. The firm's 50 day simple moving average is $274.28 and its 200-day simple moving average is $265.27.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating the consensus estimate of $4.28 by $0.37. The firm had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. Progressive had a net margin of 11.10% and a return on equity of 33.50%. As a group, analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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

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.