Range Financial Group LLC Purchases 1,406 Shares of The Progressive Co. (NYSE:PGR)

Range Financial Group LLC increased its holdings in shares of The Progressive Co. (NYSE:PGR - Free Report) by 109.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,692 shares of the insurance provider's stock after purchasing an additional 1,406 shares during the period. Range Financial Group LLC's holdings in Progressive were worth $762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moss Adams Wealth Advisors LLC grew its holdings in Progressive by 12.4% during the first quarter. Moss Adams Wealth Advisors LLC now owns 1,885 shares of the insurance provider's stock worth $533,000 after acquiring an additional 208 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of Progressive by 2.3% during the 1st quarter. First Citizens Bank & Trust Co. now owns 2,382 shares of the insurance provider's stock worth $674,000 after purchasing an additional 53 shares during the period. Abacus Planning Group Inc. increased its holdings in shares of Progressive by 14.2% in the 1st quarter. Abacus Planning Group Inc. now owns 1,660 shares of the insurance provider's stock valued at $470,000 after purchasing an additional 207 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Progressive by 213.3% in the first quarter. Capital Investment Advisors LLC now owns 4,863 shares of the insurance provider's stock valued at $1,376,000 after purchasing an additional 3,311 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Progressive by 10.7% during the first quarter. Park Avenue Securities LLC now owns 28,072 shares of the insurance provider's stock worth $7,945,000 after buying an additional 2,708 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $275.37, for a total value of $2,753,700.00. Following the sale, the chief financial officer now owns 238,024 shares of the company's stock, valued at $65,544,668.88. The trade was a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 1,267 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $277.81, for a total transaction of $351,985.27. Following the completion of the transaction, the insider now directly owns 28,888 shares of the company's stock, valued at $8,025,375.28. This trade represents a 4.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $10,367,074 over the last three months. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Up 1.9%

PGR stock traded up $5.01 during midday trading on Thursday, reaching $268.23. The company had a trading volume of 3,045,531 shares, compared to its average volume of 2,678,885. The company has a 50 day moving average of $275.67 and a two-hundred day moving average of $264.53. The company has a market capitalization of $157.24 billion, a P/E ratio of 18.63, a PEG ratio of 1.70 and a beta of 0.40. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The firm had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. On average, equities research analysts expect that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wall Street Zen downgraded Progressive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Barclays boosted their price target on Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. JPMorgan Chase & Co. increased their price objective on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Roth Mkm boosted their target price on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company raised their price target on shares of Progressive from $324.00 to $328.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.59.

Progressive 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.