The Progressive Co. (NYSE:PGR) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC trimmed its position in shares of The Progressive Co. (NYSE:PGR - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,953 shares of the insurance provider's stock after selling 1,021 shares during the period. Progressive makes up about 1.7% of Daymark Wealth Partners LLC's holdings, making the stock its 15th biggest holding. Daymark Wealth Partners LLC's holdings in Progressive were worth $48,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive during the 4th quarter worth $28,000. Atlantic Edge Private Wealth Management LLC boosted its position in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after purchasing an additional 41 shares during the period. Atala Financial Inc purchased a new stake in Progressive during the 4th quarter worth $32,000. Global Wealth Strategies & Associates boosted its position in Progressive by 119.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 138 shares of the insurance provider's stock worth $39,000 after purchasing an additional 75 shares during the period. Finally, Rialto Wealth Management LLC purchased a new stake in Progressive during the 4th quarter worth $43,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Carl G. Joyce sold 360 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total transaction of $99,421.20. Following the sale, the chief accounting officer now owns 655 shares in the company, valued at $180,891.35. This represents a 35.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $275.94, for a total transaction of $2,759,400.00. Following the completion of the sale, the chief financial officer now owns 258,024 shares in the company, valued at $71,199,142.56. The trade was a 3.73% 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 worth $10,367,074 over the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of research reports. Barclays upped their price target on shares of Progressive from $285.00 to $297.00 and gave the stock 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 research report on Monday, May 19th. Wall Street Zen cut shares of Progressive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Roth Mkm upped their price target on shares of Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Finally, BMO Capital Markets upped their price target on shares of Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Progressive presently has an average rating of "Moderate Buy" and an average target price of $288.59.

Progressive Stock Performance

NYSE:PGR opened at $279.19 on Monday. 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 1-year low of $201.34 and a 1-year high of $292.99. The firm has a 50-day moving average of $276.19 and a two-hundred day moving average of $264.50. The stock has a market cap of $163.67 billion, a P/E ratio of 19.39, a PEG ratio of 1.70 and a beta of 0.40.

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

Progressive Company 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.

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