Rowlandmiller & PARTNERS.ADV Reduces Stock Position in The Progressive Co. (NYSE:PGR)

Rowlandmiller & PARTNERS.ADV lowered its stake in The Progressive Co. (NYSE:PGR - Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,871 shares of the insurance provider's stock after selling 3,169 shares during the quarter. Progressive makes up approximately 6.7% of Rowlandmiller & PARTNERS.ADV's investment portfolio, making the stock its largest position. Rowlandmiller & PARTNERS.ADV's holdings in Progressive were worth $31,944,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vivid Wealth Management LLC acquired a new stake in Progressive in the fourth quarter valued at approximately $2,143,000. Van ECK Associates Corp boosted its holdings in shares of Progressive by 3.4% during the 4th quarter. Van ECK Associates Corp now owns 16,199 shares of the insurance provider's stock valued at $3,881,000 after acquiring an additional 527 shares in the last quarter. Allstate Corp bought a new stake in Progressive during the 4th quarter worth $4,205,000. Baird Financial Group Inc. grew its position in Progressive by 3.1% during the 4th quarter. Baird Financial Group Inc. now owns 3,667,903 shares of the insurance provider's stock worth $878,866,000 after acquiring an additional 111,659 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in Progressive by 16.8% in the 4th quarter. Jump Financial LLC now owns 86,076 shares of the insurance provider's stock worth $20,625,000 after purchasing an additional 12,351 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Trading Up 0.9%

PGR traded up $2.35 during trading on Thursday, hitting $265.57. The company's stock had a trading volume of 1,222,911 shares, compared to its average volume of 2,671,845. The firm has a market capitalization of $155.68 billion, a P/E ratio of 18.44, a PEG ratio of 1.70 and a beta of 0.40. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99. The stock's fifty day moving average price is $275.67 and its 200-day moving average price is $264.53. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.

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

Insider Activity

In other news, CAO Carl G. Joyce sold 360 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $276.17, for a total transaction of $99,421.20. Following the completion of the sale, the chief accounting officer now owns 655 shares in the company, valued at $180,891.35. The trade was a 35.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Devin C. Johnson sold 400 shares of Progressive stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.04, for a total transaction of $110,016.00. Following the completion of the sale, the director now directly owns 8,370 shares of the company's stock, valued at approximately $2,302,084.80. The trade was a 4.56% 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 worth $10,367,074. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PGR shares. BMO Capital Markets boosted their price target on Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price on the stock in a research report on Monday, April 28th. Barclays upped their price target on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, UBS Group increased their price objective on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.