Yousif Capital Management LLC Has $21.23 Million Stake in The Progressive Co. (NYSE:PGR)

Yousif Capital Management LLC cut its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,027 shares of the insurance provider's stock after selling 2,409 shares during the period. Yousif Capital Management LLC's holdings in Progressive were worth $21,233,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

PGR has been the topic of a number of research reports. Barclays boosted their price objective on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. BMO Capital Markets raised their price objective on shares of Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Wall Street Zen lowered shares of Progressive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. 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. Finally, UBS Group raised their price target on shares of Progressive from $285.00 to $291.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $288.59.

Insider Activity at Progressive

In related news, CAO Carl G. Joyce sold 360 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $276.17, for a total value of $99,421.20. Following the transaction, the chief accounting officer now owns 655 shares in the company, valued at $180,891.35. This trade 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 at the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 258,024 shares in the company, valued at $71,199,142.56. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $10,367,074 over the last quarter. Corporate insiders own 0.34% of the company's stock.

Progressive Price Performance

Shares of NYSE:PGR traded down $0.84 during midday trading on Friday, reaching $267.58. The company's stock had a trading volume of 3,152,193 shares, compared to its average volume of 2,680,269. The business's fifty day simple moving average is $275.93 and its 200-day simple moving average is $264.55. 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 fifty-two week low of $203.39 and a fifty-two week high of $292.99. The company has a market capitalization of $156.86 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.70 and a beta of 0.40.

Progressive (NYSE:PGR - Get Free Report) last posted 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 net margin of 11.25% and a return on equity of 33.79%. The firm had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. As a group, equities research 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.