Moloney Securities Asset Management LLC Has $385,000 Stock Holdings in The Progressive Corporation (NYSE:PGR)

Moloney Securities Asset Management LLC lowered its stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 83.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,359 shares of the insurance provider's stock after selling 7,026 shares during the period. Moloney Securities Asset Management LLC's holdings in Progressive were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PGR. Brighton Jones LLC grew its position in shares of Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock valued at $813,000 after purchasing an additional 457 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Progressive during the fourth quarter valued at about $269,000. Highview Capital Management LLC DE raised its stake in shares of Progressive by 3.2% during the fourth quarter. Highview Capital Management LLC DE now owns 11,040 shares of the insurance provider's stock valued at $2,645,000 after acquiring an additional 339 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Progressive by 54.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,371 shares of the insurance provider's stock worth $568,000 after buying an additional 832 shares in the last quarter. Finally, Natural Investments LLC bought a new position in Progressive in the fourth quarter worth about $214,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PGR. JPMorgan Chase & Co. increased their price target on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective for the company in a research note on Monday, April 28th. Morgan Stanley cut shares of Progressive from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $330.00 to $290.00 in a research note on Monday. BMO Capital Markets boosted their price objective on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Finally, Barclays reduced their price target on shares of Progressive from $297.00 to $287.00 and set an "equal weight" rating for the company in a report on Monday. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Progressive presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.41.

Progressive Trading Down 1.8%

Shares of NYSE PGR traded down $4.61 on Friday, reaching $244.77. 3,182,460 shares of the company traded hands, compared to its average volume of 2,810,532. The company has a 50 day moving average of $272.26 and a 200 day moving average of $265.57. The stock has a market capitalization of $143.49 billion, a PE ratio of 16.51, a P/E/G ratio of 1.57 and a beta of 0.37. The Progressive Corporation has a fifty-two week low of $208.13 and a fifty-two week high of $292.99. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 33.50% and a net margin of 11.10%. On average, equities research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, July 4th will be issued a dividend of $0.10 per share. 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 2.70%.

Insider Buying and Selling at Progressive

In related news, insider John Jo Murphy sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $260.38, for a total transaction of $1,041,520.00. Following the completion of the transaction, the insider owned 41,289 shares in the company, valued at $10,750,829.82. This trade represents a 8.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Broz sold 1,267 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $329,901.46. Following the sale, the insider owned 27,621 shares of the company's stock, valued at approximately $7,191,955.98. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,705 shares of company stock worth $11,450,948 in the last 90 days. Company insiders own 0.34% of the company's stock.

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.