The Progressive Corporation (NYSE:PGR) Shares Sold by ORG Partners LLC

ORG Partners LLC trimmed its position in The Progressive Corporation (NYSE:PGR - Free Report) by 93.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101 shares of the insurance provider's stock after selling 1,519 shares during the period. ORG Partners LLC's holdings in Progressive were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider's stock valued at $12,795,262,000 after buying an additional 583,376 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Progressive by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider's stock worth $3,498,363,000 after purchasing an additional 189,638 shares in the last quarter. Norges Bank purchased a new stake in shares of Progressive during the 4th quarter worth $1,843,045,000. Northern Trust Corp boosted its position in shares of Progressive by 13.0% during the 4th quarter. Northern Trust Corp now owns 6,179,529 shares of the insurance provider's stock worth $1,480,677,000 after purchasing an additional 710,684 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Progressive by 34.3% during the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock worth $1,451,602,000 after purchasing an additional 1,547,677 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Trading Down 0.1%

PGR stock traded down $0.34 during midday trading on Tuesday, hitting $266.04. The stock had a trading volume of 3,515,310 shares, compared to its average volume of 2,714,808. The firm has a market cap of $155.96 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.64 and a beta of 0.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The Progressive Corporation has a 12-month low of $204.88 and a 12-month high of $292.99. The company's 50-day moving average price is $274.89 and its 200 day moving average price is $264.58.

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

Wall Street Analyst Weigh In

PGR has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a research report on Friday. Bank of America upgraded shares of 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. UBS Group lifted their price target on shares of Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded Progressive from a "hold" rating to a "buy" rating in a research report on Saturday. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $288.88.

Insider Activity

In other news, insider Steven Broz sold 1,267 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $277.81, for a total transaction of $351,985.27. Following the completion of the sale, the insider now directly owns 28,888 shares of the company's stock, valued at $8,025,375.28. The trade was a 4.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dyke Kahina Van sold 2,490 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total transaction of $691,398.30. Following the sale, the director now directly owns 12,429 shares of the company's stock, valued at $3,451,160.43. This represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,705 shares of company stock valued at $11,572,448 in the last ninety days. Company insiders own 0.33% of the company's stock.

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.