Capital Insight Partners LLC Boosts Stock Position in The Progressive Corporation (NYSE:PGR)

Capital Insight Partners LLC increased its holdings in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 18.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,623 shares of the insurance provider's stock after buying an additional 3,339 shares during the period. Capital Insight Partners LLC's holdings in Progressive were worth $6,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stonebrook Private Inc. increased its stake in Progressive by 4.4% during the 1st quarter. Stonebrook Private Inc. now owns 1,199 shares of the insurance provider's stock worth $339,000 after buying an additional 51 shares in the last quarter. CFO4Life Group LLC increased its stake in Progressive by 2.1% during the 1st quarter. CFO4Life Group LLC now owns 3,619 shares of the insurance provider's stock worth $1,024,000 after buying an additional 74 shares in the last quarter. Index Fund Advisors Inc. purchased a new position in shares of Progressive in the first quarter worth about $232,000. Quotient Wealth Partners LLC lifted its stake in shares of Progressive by 13.7% in the first quarter. Quotient Wealth Partners LLC now owns 1,801 shares of the insurance provider's stock worth $510,000 after buying an additional 217 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in shares of Progressive by 5.6% in the first quarter. Axxcess Wealth Management LLC now owns 1,411 shares of the insurance provider's stock worth $399,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PGR. Keefe, Bruyette & Woods raised their price target on shares of Progressive from $288.00 to $290.00 and gave the stock a "market perform" rating in a research note on Wednesday. Bank of America upgraded Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price for the company in a report on Monday, April 28th. BMO Capital Markets upped their target price on Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Wells Fargo & Company upped their target price on Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, Jefferies Financial Group dropped their target price on Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Progressive currently has an average rating of "Moderate Buy" and an average price target of $285.41.

Progressive Price Performance

PGR traded down $3.45 during trading on Friday, reaching $245.93. 1,736,559 shares of the stock were exchanged, compared to its average volume of 2,803,916. The business's 50 day moving average price is $272.26 and its two-hundred day moving average price is $265.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $144.17 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.58 and a beta of 0.37. The Progressive Corporation has a 1 year low of $207.50 and a 1 year high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The business had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. As a group, equities research analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, July 4th will be given a $0.10 dividend. This represents a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, July 3rd. Progressive's dividend payout ratio is currently 2.70%.

Insiders Place Their Bets

In other news, insider Steven Broz sold 1,267 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total transaction of $329,901.46. Following the completion of the sale, the insider owned 27,621 shares in the company, valued at approximately $7,191,955.98. The trade was a 4.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dyke Kahina Van sold 2,490 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $277.67, for a total transaction of $691,398.30. Following the sale, the director owned 12,429 shares of the company's stock, valued at approximately $3,451,160.43. This represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,705 shares of company stock valued at $11,450,948. 0.34% of the stock is currently 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.