SOA Wealth Advisors LLC. Purchases Shares of 11,771 The Progressive Co. (NYSE:PGR)

SOA Wealth Advisors LLC. acquired a new stake in The Progressive Co. (NYSE:PGR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,771 shares of the insurance provider's stock, valued at approximately $3,331,000.

Other institutional investors have also added to or reduced their stakes in the company. Pines Wealth Management LLC grew its holdings in shares of Progressive by 3.0% during the 1st quarter. Pines Wealth Management LLC now owns 1,287 shares of the insurance provider's stock valued at $335,000 after purchasing an additional 37 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of Progressive by 2.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,940 shares of the insurance provider's stock worth $549,000 after buying an additional 38 shares in the last quarter. Beacon Financial Group lifted its stake in shares of Progressive by 1.1% in the 1st quarter. Beacon Financial Group now owns 3,659 shares of the insurance provider's stock valued at $1,036,000 after acquiring an additional 39 shares during the last quarter. Kesler Norman & Wride LLC lifted its stake in shares of Progressive by 1.1% in the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider's stock valued at $885,000 after acquiring an additional 40 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC grew its position in Progressive by 3.6% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 1,142 shares of the insurance provider's stock worth $323,000 after acquiring an additional 40 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CIO Jonathan S. Bauer sold 1,696 shares of the business's 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $275.37, for a total transaction of $2,753,700.00. Following the completion of the transaction, the chief financial officer now owns 238,024 shares of the company's stock, valued at $65,544,668.88. This trade represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $10,367,074 in the last 90 days. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

PGR has been the subject of several recent research reports. BMO Capital Markets upped their price objective on Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. UBS Group increased their price target on Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Jefferies Financial Group cut their price objective on shares of Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $288.00 price target on shares of Progressive in a research report on Thursday, April 17th. Finally, Morgan Stanley set a $330.00 price objective on shares of Progressive and gave the stock an "overweight" rating in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $288.59.

Progressive Stock Performance

Shares of Progressive stock traded down $2.55 on Wednesday, reaching $262.94. 2,999,111 shares of the company traded hands, compared to its average volume of 2,675,854. The company has a 50 day moving average of $275.55 and a 200 day moving average of $264.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99. The firm has a market capitalization of $154.14 billion, a PE ratio of 18.26, a PEG ratio of 1.70 and a beta of 0.40.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data 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. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The business had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. Equities analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current 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.