Signal Advisors Wealth LLC Purchases 2,907 Shares of The Progressive Co. (NYSE:PGR)

Signal Advisors Wealth LLC grew its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 24.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,796 shares of the insurance provider's stock after buying an additional 2,907 shares during the period. Signal Advisors Wealth LLC's holdings in Progressive were worth $4,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Archer Investment Corp increased its position in Progressive by 295.1% during the fourth quarter. Archer Investment Corp now owns 2,102 shares of the insurance provider's stock worth $504,000 after purchasing an additional 1,570 shares during the last quarter. Sycomore Asset Management increased its position in Progressive by 42.8% during the fourth quarter. Sycomore Asset Management now owns 51,770 shares of the insurance provider's stock worth $13,066,000 after purchasing an additional 15,512 shares during the last quarter. Vivid Wealth Management LLC purchased a new position in Progressive during the fourth quarter worth about $2,143,000. Van ECK Associates Corp increased its position in shares of Progressive by 3.4% during the fourth 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 during the last quarter. Finally, Allstate Corp acquired a new stake in shares of Progressive during the fourth quarter valued at about $4,205,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Price Performance

Shares of PGR traded down $8.08 during trading hours on Monday, reaching $271.24. The company had a trading volume of 5,885,898 shares, compared to its average volume of 2,669,122. The firm has a 50 day simple moving average of $276.19 and a 200-day simple moving average of $264.50. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $159.01 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.70 and a beta of 0.40. The Progressive Co. has a 12-month low of $201.34 and a 12-month high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last posted its 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 during 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%. Research analysts expect that The Progressive Co. will post 14.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PGR shares. Roth Mkm lifted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Wells Fargo & Company lifted their price target on shares of Progressive from $324.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. UBS Group lifted their price target on shares of Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective for the company in a report on Monday, April 28th. Finally, Wall Street Zen cut shares of Progressive from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $288.59.

Insider Activity at Progressive

In other 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 transaction of $2,753,700.00. Following the transaction, the chief financial officer now directly owns 238,024 shares of the company's stock, valued at approximately $65,544,668.88. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 1,267 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $277.81, for a total transaction of $351,985.27. Following the completion of the sale, the insider now directly owns 28,888 shares in the company, valued at $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,755 shares of company stock worth $10,367,074. 0.34% of the stock is owned by company insiders.

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.