SOA Wealth Advisors LLC. Takes Position in The Progressive Co. (NYSE:PGR)

SOA Wealth Advisors LLC. acquired a new position in The Progressive Co. (NYSE:PGR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,771 shares of the insurance provider's stock, valued at approximately $3,331,000.

A number of other large investors have also recently made changes to their positions in PGR. One Plus One Wealth Management LLC increased its position in Progressive by 16.3% during the 1st quarter. One Plus One Wealth Management LLC now owns 1,452 shares of the insurance provider's stock valued at $411,000 after purchasing an additional 203 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of Progressive by 108.0% during the 1st quarter. Miracle Mile Advisors LLC now owns 1,745 shares of the insurance provider's stock valued at $494,000 after purchasing an additional 906 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Progressive by 7.0% during the first quarter. Revolve Wealth Partners LLC now owns 1,201 shares of the insurance provider's stock valued at $340,000 after buying an additional 79 shares during the period. Whitaker Myers Wealth Managers LTD. bought a new position in Progressive in the first quarter worth about $870,000. Finally, Wedmont Private Capital lifted its holdings in Progressive by 6.0% in the first quarter. Wedmont Private Capital now owns 8,462 shares of the insurance provider's stock worth $2,332,000 after buying an additional 479 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PGR has been the subject of several research reports. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $288.00 target price on shares of Progressive in a research report on Thursday, April 17th. Roth Mkm raised their price objective on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. upped their target price on shares of Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of Progressive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $288.59.

Insider Buying and Selling at Progressive

In related news, CIO Jonathan S. Bauer sold 1,696 shares of Progressive stock in a transaction on Monday, March 17th. The stock was sold at an average price of $282.66, for a total transaction of $479,391.36. Following the transaction, the executive now directly owns 26,697 shares in the company, valued at approximately $7,546,174.02. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Broz sold 1,267 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $277.81, for a total value of $351,985.27. Following the completion of the sale, the insider now owns 28,888 shares of the company's stock, valued at approximately $8,025,375.28. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,755 shares of company stock valued at $10,367,074. 0.34% of the stock is owned by company insiders.

Progressive Stock Performance

NYSE PGR traded down $8.08 during trading hours on Monday, hitting $271.24. The company's stock had a trading volume of 5,885,898 shares, compared to its average volume of 2,669,122. The company has a market cap of $159.01 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The company's 50 day simple moving average is $276.19 and its two-hundred day simple moving average is $264.50. The Progressive Co. has a 12 month low of $201.34 and a 12 month high of $292.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

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

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.