Transform Wealth LLC Grows Stake in The Progressive Co. (NYSE:PGR)

Transform Wealth LLC raised its holdings in The Progressive Co. (NYSE:PGR - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,298 shares of the insurance provider's stock after buying an additional 3,094 shares during the quarter. Transform Wealth LLC's holdings in Progressive were worth $7,726,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vivid Wealth Management LLC bought a new stake in shares of Progressive during the 4th quarter valued at about $2,143,000. Van ECK Associates Corp raised its holdings in Progressive by 3.4% in the fourth quarter. Van ECK Associates Corp now owns 16,199 shares of the insurance provider's stock worth $3,881,000 after purchasing an additional 527 shares in the last quarter. Allstate Corp bought a new stake in shares of Progressive during the 4th quarter valued at $4,205,000. Baird Financial Group Inc. grew its position in shares of Progressive by 3.1% in the 4th quarter. Baird Financial Group Inc. now owns 3,667,903 shares of the insurance provider's stock worth $878,866,000 after buying an additional 111,659 shares during the period. Finally, Jump Financial LLC increased its stake in shares of Progressive by 16.8% in the 4th quarter. Jump Financial LLC now owns 86,076 shares of the insurance provider's stock worth $20,625,000 after acquiring an additional 12,351 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PGR has been the topic of several research reports. Roth Mkm boosted their price objective on shares of Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Morgan Stanley set a $330.00 target price on shares of Progressive and gave the company an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upped their price target on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Bank of America upgraded 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. Finally, Wall Street Zen cut Progressive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Progressive presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.59.

Insider Activity

In other Progressive news, CIO Jonathan S. Bauer sold 1,696 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $282.66, for a total value of $479,391.36. Following the sale, the executive now owns 26,697 shares in the company, valued at $7,546,174.02. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $275.37, for a total transaction of $2,753,700.00. Following the sale, the chief financial officer now directly owns 238,024 shares of the company's stock, valued at $65,544,668.88. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,755 shares of company stock valued at $10,367,074. 0.34% of the stock is currently owned by insiders.

Progressive Trading Up 0.9%

PGR stock traded up $2.46 during mid-day trading on Thursday, reaching $265.68. 1,361,686 shares of the stock traded hands, compared to its average volume of 2,672,572. The Progressive Co. has a one year low of $201.34 and a one year high of $292.99. The stock has a market capitalization of $155.75 billion, a PE ratio of 18.45, a PEG ratio of 1.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The business has a 50-day moving average price of $275.67 and a two-hundred day moving average price of $264.53.

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 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 company had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Equities research analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

About Progressive

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.