The Progressive Corporation (NYSE:PGR) Shares Purchased by Cassia Capital Partners LLC

Cassia Capital Partners LLC increased its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 58.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,892 shares of the insurance provider's stock after acquiring an additional 1,442 shares during the quarter. Cassia Capital Partners LLC's holdings in Progressive were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC raised its holdings in Progressive by 114.0% in the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock valued at $26,000 after buying an additional 49 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in Progressive in the 4th quarter valued at about $28,000. Atala Financial Inc purchased a new stake in Progressive in the 4th quarter valued at about $32,000. Garde Capital Inc. purchased a new stake in Progressive in the 1st quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in Progressive by 119.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 138 shares of the insurance provider's stock valued at $39,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive Stock Up 0.4%

PGR stock opened at $261.26 on Friday. The company's 50 day moving average price is $275.34 and its 200 day moving average price is $264.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The Progressive Corporation has a fifty-two week low of $204.88 and a fifty-two week high of $292.99. The firm has a market capitalization of $153.16 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.64 and a beta of 0.40.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating the consensus estimate of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The company had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. On average, equities research analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Progressive news, 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 sale, the chief financial officer now owns 258,024 shares of the company's stock, valued at approximately $71,199,142.56. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Broz sold 1,267 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $277.81, for a total transaction of $351,985.27. Following the sale, the insider now directly owns 28,888 shares in the company, valued at approximately $8,025,375.28. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,157 shares of company stock valued at $9,352,400. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective on the stock in a report on Monday, April 28th. Wall Street Zen upgraded shares of Progressive from a "hold" rating to a "buy" rating in a report on Saturday. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $288.00 price objective on shares of Progressive in a report on Thursday, April 17th. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group cut their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Progressive has an average rating of "Moderate Buy" and an average price target of $288.88.

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.

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