The Progressive Corporation (NYSE:PGR) Stock Holdings Increased by Little House Capital LLC

Little House Capital LLC lifted its stake in The Progressive Corporation (NYSE:PGR - Free Report) by 52.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,790 shares of the insurance provider's stock after purchasing an additional 1,645 shares during the quarter. Little House Capital LLC's holdings in Progressive were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Overbrook Management Corp purchased a new stake in shares of Progressive in the first quarter worth approximately $17,584,000. Sunbelt Securities Inc. raised its position in Progressive by 92.3% during the first quarter. Sunbelt Securities Inc. now owns 904 shares of the insurance provider's stock valued at $256,000 after acquiring an additional 434 shares in the last quarter. Mascoma Wealth Management LLC raised its position in Progressive by 585.5% during the first quarter. Mascoma Wealth Management LLC now owns 425 shares of the insurance provider's stock valued at $120,000 after acquiring an additional 363 shares in the last quarter. Hartmann Taylor Wealth Management LLC bought a new position in Progressive during the first quarter valued at approximately $264,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Progressive by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,398 shares of the insurance provider's stock valued at $26,882,000 after acquiring an additional 11,947 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. increased their price target on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Jefferies Financial Group lowered their price target on Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays increased their price target on Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, UBS Group increased their price target on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $288.88.

Progressive Stock Up 0.9%

PGR opened at $263.85 on Friday. The Progressive Corporation has a fifty-two week low of $207.48 and a fifty-two week high of $292.99. 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 firm's fifty day moving average price is $274.46 and its two-hundred day moving average price is $264.76. The company has a market capitalization of $154.68 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.61 and a beta of 0.40.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.28 by $0.37. The company had revenue of $22.21 billion during the quarter, compared to analysts' expectations of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. On average, analysts anticipate that The Progressive Corporation will post 14.68 EPS for the current year.

Insider Buying and Selling at Progressive

In related news, Director Stuart B. Burgdoerfer sold 3,681 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.43, for a total transaction of $958,642.83. Following the transaction, the director now owns 12,217 shares in the company, valued at $3,181,673.31. This represents a 23.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the transaction, the chief financial officer now owns 248,024 shares in the company, valued at approximately $66,616,766.16. This trade represents a 3.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,705 shares of company stock valued at $8,813,048. 0.34% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Progressive Corporation (NYSE:PGR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.